Founder of 8Hotels sells Sydney guest house for $30 million

A Google Street View image of the guest house.

A guest house in Sydney’s Surry Hills is selling for about $30 million to Crystalbrook Collection – an investment house founded by Syrian billionaire Ghassan Aboud.

The purchase of the 35-room Little Albion Guest House (pictured top and left) at 21 Little Albion Street, comes a year after a $100 million spending spree by Crystalbrook for three hotels in Cairns and a hospitality complex and cattle station in Queensland’s outback (since branded Crystalbrook Lodge and Crystalbrook Station).

The group’s latest acquisition in Sydney’s inner south – a boutique hotel built into a school convent constructed in 1910 – was developed by Paul Fischmann, founder and owner of 8Hotels, according to The Australian, which first reported the deal.

Mr Fischmann accepted “an offer I couldn’t refuse” according to an interview in that media outlet. CBRE found the buyer.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco
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