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Australia's Leading Beachfront Hotel - First Time in 20 Years for Sale

Rae's on Wategos, 8 Marine Parade, Byron Bay, Will be Auctioned on Friday October 26 at 2PM.

Melbourne, Oct 10, 2012 - (ACN Newswire) - Australia's most unique, exclusive and beautiful beachfront hotel, Rae's on Wategos located at Byron Bay has been placed on the market for the first time in 20 years by entrepreneur Vincent Rae, set to be auctioned Friday October 26 at 2pm.

Located on the most easterly point of Australia's Wategos Beach, Rae's has seven individually styled penthouses and suites, a 60 seat restaurant and an awarded Day Spa is acclaimed Internationally for its charm and eclectic European interiors, style and architecture with lush gardens and sweeping ocean views.

Regarded as one of the most beautiful and idyllic beaches in Australia, frequented regularly by dolphins and boasting one of the most perfect long board waves, the privacy and beauty of Rae's attracts the world's who's who of guests, including; Harvey Keitel, Lenny Kravis, Gwyneth Paltrow, Kate Winslet, Tom Cruise, Meg Ryan, Owen Wilson, Russell Crowe, Keith Richards, Pink, Elle Macpherson, Nicole Kidman, Ewan Mcgregor, Ashton Kutcher, Richard Branson, Naomi Watts, Donald Sutherland and World No 1 Chef, Heston Blumenthal, to name a few.

Founder and owner Vinnie Rae said, 'Rae's is a hotel with the genuine feel of a beautiful home, it's a magnificent building and lifestyle however after 20 years, it's time for me to move on and pursue my overseas interest."

The seven individually styled penthouses and suites are tastefully decorated with both international and local design influences and feature spa baths, wood fireplaces and spectacular views of the beach and Byron Bay headland.

Ray White Hotels Australia have been appointed to manage the property's sales in conjunction with Kay & Burton in Melbourne.

Tony Bargwanna, Ray White Hotels, said he expected high levels of interest in the trophy property which had set itself apart as one of the country's most acclaimed hotels.

"This is one of the best residential locations on the east coast of Australia, if not in the entire country," he said. "The sale presents an extremely rare opportunity to walk into a prime establishment and operate under a very successful brand which has positioned itself at the forefront of Australian hospitality."

The marketing campaign will be run nationally and internationally and we expect solid interest.

"Sold as an ongoing concern, with the hotel and restaurant generating solid annual revenue and profits, it's anticipated the buyer will purchase Rae's as a trophy asset and continue to run it as a boutique hotel. However it is a possibility the purchaser may convert the property to an exclusive private residence," said Barguanna.

The hotel's restaurant and functions venue, Rae's Fish Cafe, is also highly celebrated and was this year acclaimed by the Australian Good Food Guide.

Continuing the success of the hotel and restaurant, the onsite spa was also voted as one of the world's Top 50 Spas by Luxury Travel Magazine and one of the ten best in Australia by Body + Soul.

In addition, major DA approved for new underground carpark, cocktail bar, lift, new sub penthouse, larger Spa and 200sqm entertaining terrace and gardens overlook ocean with direct beach access.

The entire Rae's establishment really is the epitome of quality and is a testament to Mr Vincent Rae's vision and 20 years of hard work.

"Individuality, outstanding design and dedication to service, Rae's at Wategos makes good on what fine beach resorts often promise but precious few deliver", Conde Nast Traveller Magazine said placing Rae's in their "Top 25 Hotels in The World".

Media inquiries please contact:
Peter Metzner / +61 412 911182 / [email protected]

Ray White inquiries:
Tony Bargwanna / +61 411 544451 / [email protected],
Greg Bell / +61 414 380555 / [email protected]
Andrew Jolliffe / +61 438 733 447 / [email protected]

Kay & Burton inquiries:
Gerald Delany / +61 418 355 337 / [email protected]

Source: Rae's

Copyright 2012 ACN Newswire. All rights reserved.

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Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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