Penrith’s Peachtree Hotel has a new owner.
Property group, Boyuan Holdings Limited (BHL), confirmed on Monday night that it had purchased the hotel on Castlereagh Road.
BHL’s Chief Executive Officer, Caden Wan, said the hotel purchase was part of the company’s ongoing strategy to pursue further investment opportunities across complementary sectors.
“We are excited to announce the strategic acquisition of the Peachtree Hotel,” Mr Wan said.
“As BHL continues to progress our property developments in the growth corridors of western and south western Sydney, we are now widening our scope and actively pursuing investment opportunities in key sectors which enhance our current asset base.
“The acquisition of the Peachtree Hotel is a quality investment which allows us to enter into the hotel and hospitality sector. We are currently finalising discussions with an experienced Sydney hotel operator to partner with us in the sector. This acquisition will further enhance our growing investment portfolio in the key growth market of NSW.”
Mr Wan said the site on Castlereagh Road offers significant upside for growth with potential future upgrades and refurbishments, and development opportunities.
It’s currently business as usual for the Peachtree Hotel despite the news of the ownership change.