BROOKFIELD Multiplex will sell Perth’s iconic Cottesloe Beach Hotel.
The developer failed to obtain a development permit after several years, and will sell the asset as an investment.
Its plans for a $100 million high rise building on the site seemed doomed in May when the Cottesloe Town Council decided to retain a three-storey height limit in the area.
Brookfield Multiplex paid $17 million for the Marine Parade property in 2003. The asking price this time around his not been disclosed.Read more