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|Hotel / Specialty||2021||Confidential|
Seller: Gaia Group
Services provided: Disposition
Colliers was appointed to market Gaia Retreat & Spa in Byron Bay on behalf of co-owners Gregg Cave, Ruth Kalnin, Warwick Evans and Olivia Newton-John.
Gaia Retreat & Spa is an intimate, globally recognised boutique lifestyle retreat in Byron Bay’s hinterland, offering 22 elegantly appointed rooms, expansive day spa and restaurant set on over 8 hectares (ha) of land. The sale also included two adjoining residential titles across more than 4ha with expansive district views.
The unique aspects of Gaia Retreat & Spa made it challenging to benchmark. The retreat has a long track record of delivering healthy bottom line returns through a very high retention of staff and repeat visitation by guests, including an impressive array of national and international celebrities who regularly patronise the retreat.
The arrival of Hollywood in Byron Bay and the global buzz this has created has fundamentally changed the region forever. However, it was important to the vendors to entrust their custodianship to likeminded visionaries who were inspired to continue their ‘G.R.O.W.’ ethos – Gratitude, Respect, Organic, Wellness.
Colliers ran a staged International Expressions of Interest (EOI) campaign including a pre-registration phase, which recognised the iconic nature of the property.
The response was overwhelmingly positive which highlighted the strong investor appetite for Australian regional properties and those with prominence as a global pioneer in wellness. Interest was widespread from a diverse range of buyers, from global and international hotel investors to private investors.
Colliers worked with potential purchasers to help them better understand the wellness retreat business model and to educate them on the financial performance for luxury retreats in Australia.
One of the Australia’s largest private investment groups, Tattarang, was the ultimate purchaser of Gaia Retreat and Spa. They saw the opportunity to acquire an iconic Australian brand with a coveted global reputation for excellence in wellness and luxury.
The Group’s property division Fiveight had acquired the retreat, with its lifestyle division Z1Z to deliver all hotel and associated operations.
“From the moment we first met both Karen and Gus at our haven, Gaia Retreat & Spa, there was a strong connection and respect for each other. It was a difficult decision for all directors of Gaia Group to release the property on the market, but we knew it was the right time to find the perfect custodian. We wanted to find that someone who would shine their light and breathe fresh new energy on this beautiful piece of paradise.
It soon became apparent from their keen enthusiasm and solid interest they understood how our stand-alone property operated and how it so confidently gained an impeccable reputation in the Wellness hospitality market. Throughout the entire process both Karen and Gus provided expert guidance and strong support. They both handled a well-executed and finely targeted sales campaign and without doubt quickly gained an even deeper understanding of the unique qualities of our magnificent lifestyle retreat, this in turn enabled them to achieve a fantastic result for us all.
We are thrilled Tattarang are the new custodians, and we would have no hesitation in recommending Colliers, especially Karen & Gus.”
-- Gregg Cave, Ruth Kalnin, Olivia Newton-John and Warwick Evans
Directors of Gaia Group, now aptly known as the G.R.O.W
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