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A group of Bondi homeowners have hit the jackpot, selling their properties — one who paid 11,500 pounds nearly 60 years ago — for more than $50m to a property developer in a hushed-up deal.

Accor, the world-leading hospitality group, and a joint venture of well-known Sydney developer Central Element and property investor Boston Global (CEBH), have announced today that Sydney's first 25hours Hotel is set to open at the end of 2022.