AN iconic Scarborough landmark and one of Perth’s best live music venues, the Indian Ocean Hotel, is up for sale for the first time in 30 years.
The property features a five-storey, 59 room hotel with a mix of rooms, as well as the Indie Bar and Bistro, which hosts live music five days a week.
But it is the 4520sqm parcel of land occupied by the hotel, just metres from the ocean, that will attract attention from developers.
The site is zoned R160 with a special use ‘hotel’ classification attached and it is currently restricted to eight storeys.
But under the proposed Scarborough redevelopment scheme, the potential height will be up 12 storeys if community benefits such as public areas or short term accommodation services are provided.
The business is being sold as a going concern on a walk-in walk-out basis.
The hotel last changed hands in 1985 and is being be sold after the death of the majority shareholder.
It was built in the early 1970’s as Scarborough’s first high-rise development and was known as the White Sands until 1990.
Originally published as Iconic Scarborough hotel for sale