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Greenland Offloads Luxury Sydney Hotel
Hotel developer, fund manager and operator Pro-invest Group has acquired the five-star Primus Hotel in central Sydney for $130 million.
The 172-room hotel located at 339-341 Pitt Street, adjacent to Greenland Australia’s 66-storey apartment tower, the tallest in Sydney CBD.
The Woods-Bagot designed hotel, which opened in 2015, represents an architectural revival of the 1930s inter-war period.
It has been restored with its original features such as the grand eight-metre high scagliola columns and the lobby’s panelled skylight.
Greenland listed the hotel last year following initial interest from the market which saw several short-listed parties look into the property.