Property Advert of the Week: The Gazebo (2001)

The Gazebo at Kings Cross operated as a hotel between 1969 and closed in "the 1990s", though I tend to believe that it closed in 2001 when apartments went on sale in the former hotel. The conversion to apartments was completed in 2005. 

Why the decision to convert to apartments? Following the Sydney Olympics in 2000, there was an oversupply of hotel rooms in Sydney. There was also an increased preference for travellers to stay in Central Sydney, and for hotel operators in Kings Cross, it was more economical to convert hotels into apartment blocks. 

In the newspaper advertisement below from 2001, large studios were on sale from $375 000, 1 bedroom apartments from $495 000, 2 bedrooms from $635 000. Three-bedroom apartments were on sale, but prices were not advertised.

 

Source: City Project Marketing. 2001 "gazebo... good design comes full circle" (advertisement). The Sydney Morning Herald, November 17: 25A (Domain Liftout).