The NSW Southern Highlands is enjoying an influx of new investment, including the recent $20 million sale of a sprawling Bowral retreat.
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Milton Park Country House Hotel and Spa, which featured on an episode of Married At First Sight, is set to undergo a major refurbishment after it changed hands in March.
Fund management company Salter Brothers paid $20.2 million for the 11-hectare property, CoreLogic records show, purchasing it from foreign investors Yufan Australia Pty Ltd.
Yufan Australia paid $13 million for the property at 200 Horderns Road, Bowral in 2013.
![Bowral's Milton Park Country House Hotel and Spa sold for $20.2 million in March. Picture supplied Bowral's Milton Park Country House Hotel and Spa sold for $20.2 million in March. Picture supplied](/images/transform/v1/crop/frm/146508744/61e23769-a03c-4a77-ad76-2b713d14ec38.jpg/r0_0_1500_843_w1200_h678_fmax.jpg)
Department store pioneers the Hordern family purchased the property, then called Mansfield Park, in 1910. It later opened as a hotel in 1985 and today includes 44 rooms, a spa and conference pavilion.
Salter Brothers managing director Paul Salter confirmed the sale in a statement, describing the property as a "beautiful asset" in a highly sought-after destination.
"We have plans to substantially refurbish and reposition this estate as a leading boutique luxury lifestyle retreat in the region," he said.
"The property will complement our portfolio of boutique luxury hotels and retreats."
![Milton Park was among the 2022 filming locations for Married At First Sight. Picture supplied Milton Park was among the 2022 filming locations for Married At First Sight. Picture supplied](/images/transform/v1/crop/frm/146508744/25574adf-62a2-4edd-aabe-180bf9ebe0cc.jpg/r37_0_1464_803_w1200_h678_fmax.jpg)
Salter Brothers' existing portfolio includes Mercure, Crowne Plaza and Intercontinental hotels across Australia and overseas. The group also purchased six Spicers Retreats properties in 2022.
The sale followed another Bowral hotel transaction that was completed late last year.
Popular wedding and events venue Links House is under new management after selling for $5.25 million to a foreign investment company in November.
Links House was listed for sale in June 2022 with initial price expectations between $6 million and $6.5 million.
![Links House in Bowral is under new management following its $5.25 million sale. Picture supplied Links House in Bowral is under new management following its $5.25 million sale. Picture supplied](/images/transform/v1/crop/frm/146508744/4cf0407f-0b23-4882-a7f9-20c4543573fc.jpg/r0_179_1920_1258_w1200_h678_fmax.jpg)
The property at 17 Links Road, Burradoo sold for $4.56 million, CoreLogic records show. An additional $690,000 was paid for the business.
The buyer, Carson Capital Bowral Boutique Property Pty Ltd, is understood to be a foreign investment company with a head office in Sydney.
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Built in 1928, Links House hotel features 17 guest rooms, conference and event spaces, a guest lounge and restaurant.
The seller, Joey Pfahl, had operated the business since purchasing it in 2018 from Grant Broadcasters Pty Ltd for $2.6 million.
![The boutique Links House hotel includes 17 rooms and event facilities. Picture supplied The boutique Links House hotel includes 17 rooms and event facilities. Picture supplied](/images/transform/v1/crop/frm/146508744/ab2a902b-e69e-4645-9d05-97fe7fa3ea53.jpg/r0_98_1920_1182_w1200_h678_fmax.jpg)
CBRE Hotels director Raymond Tran said there was strong interest in the property from restaurateurs and event specialists, but ultimately the investment company emerged as the successful buyer.
"It's not their first foray into boutique hotels, they've got a couple dotted along the eastern coastline," Mr Tran said.
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Mr Tran said the Southern Highlands was "the flavour of the month" among investors.
"It seems to be particularly high-net-worth groups and foreign groups mainly coming out of Asia where they're looking for boutique businesses that they can manage under their own volition," he said.
"So these types of properties have become increasingly popular over the last few months."
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