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Businessman Completes $17.35 Million Byron Bay Resort Deal
A businessman acquired commercial components of a new luxury resort in Byron Bay for $17.35 million. The purchase was financed through mortgages on other local assets and settled in June.
Jul 12, 2:30 AM·1m read1 source
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A businessman acquired the common areas, retail spaces, rooftop, pool, and related facilities of the Bonobo by Raes resort in Byron Bay for $17.35 million. The transaction closed in June through three separate title transfers, one valued at $17.35 million and two at $1 each.
The buyer now controls eight ground-floor retail lots, basement parking, a commercial kitchen, and the resort's lobby lounge operations. A men's clothing store and a wellness studio have already leased space, with negotiations continuing for the final tenancy.
The purchase was funded by new mortgages taken out against two other high-profile properties in Byron Bay, including Raes on Wategos. Those loans were provided by a subsidiary of Centuria Capital. The assets are held through Jonson Street by Raes Property Pty Ltd, whose sole director is the buyer's eldest son. Ultimate ownership rests with Kirant Holdings Pty Ltd.
The businessman faces charges including unlawful imprisonment, threats to kill, recklessly causing injury, and four counts of assault. The charges stem from an alleged March incident involving his wife. Bail conditions were modified in June to permit visits to Byron Bay. The next court appearance is scheduled for October.
