IC Double Bay Sold.

[drron]

The Chinese owners of the IC Double Bay have sold it to a Melbourne developer.Said to be restyled as a Louis Vuitton branded hotel.

A Chinese private equity group has sold the Intercontinental Hotel Double Bay for almost $180 million to Melbourne-based developer Fridcorp, founded and headed by Paul Fridman.


Independent sources say there are suggestions Fridcorp in a joint venture Piety Group paid $178 million to Shanghai United for the luxury five-star hotel in the heart of Double Bay village amid plans to re-style it as a Louis Vuitton-branded hotel.

Intercontinental Hotel Double Bay sold by Chinese private equity group for almost $180m

The luxury hotel was offloaded by Chinese private equity group Shanghai United, which bought it four years ago.

www.commercialrealestate.com.au

 

[Princess Fiona]

Omg !!!! Finally I can ditch the Hilton SYD.

 

[jakeseven7]

Great news that place was very average