Kings Cross – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 06 Mar 2011 04:00:20 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Kings Cross – realestatesource https://www.realestatesource.com.au 32 32 Toga Group Buys Kings Cross Hotel for $16.75 Million https://www.realestatesource.com.au/toga-group-buys-kings-cross-hotel-for-1675-million/ Sun, 06 Mar 2011 04:00:20 +0000 http://realestatesource.com.au/wordpress/toga-group-buys-kings-cross-hotel-for-1675-million.html THE Mansions hotel, in Sydney's inner-city Kings Cross, has sold to developer Toga Group for $16.75 million.

The property, which currently trades as a pub, is expected to be converted into an apartment complex. Toga purchased the site on terms subject to this redevelopment being approved. The Mansions soars five levels. It was one of the last controlled by the Landmark Leisure Group which went into receivership in 2009.

Other sites owned by LLG included the Vegas Hotel, which like The Mansions is also in Kings Cross. Other assets include Darlingsford's Oxford Hotel and the peakhurst Inn.
]]> The Mansions sits on an 888 square metre block at the corner of Bayswater Road and Kellett Street.

Toga’s other assets icnlude the Vibe Medina, and Travelogdge brands. It’s also planning to redevelop the former Hakoah Club at Bondi Beach with 150 flats, a project which is being opposed by council. Another Toga project is the Hampton Court Hotel in Potts Point.

Toga is ultimately controlled by BRW Rich Listers Charlotte and Ervin Vidor, who are reportedly worth some $483 million. The company’s managing director is the Vidor couple’s son, Allan. Toga controls more than 50 hotels in Australia and Europe.

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