Five-star Perth hotels to attract international interest
Two of Australia’s most stylish hotels have hit the market in Western Australia with the sites tipped to attract jet-setting investors from across the globe.
The 368-room Westin Perth, straddling Hay and Murray streets in the heart of Perth’s CBD, is up for grabs after the luxury haven officially opened its doors earlier this year.
But the five-star accommodation is not the only deal on the cards, with the nearby Aloft Perth and an adjoining nine-storey office building also on the market.
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The sites have been released as Perth continues its march toward economic recovery with tourism leading the charge.
With confidence in the economy returning investors from far and wide are expected to vie for the sites, according to JLL’s Mark Durran.
“The Perth hotel investment market is poised for recovery,” Durran says.
“STR Global reports that demand across Perth hotels grew by 10.7% in 2017 on the back of business travel growth, a key indicator of the strong underlying trading fundamentals in the market.
“The positive outlook and market sentiment has also been reflected in the increased hotel transaction activity in Perth over the past 12 months as investors position themselves for future long-term growth.”
The Westin boasts luxuriously large rooms with scenic views of the Swan River, modern facilities and appliances along with the hotel chain’s signature Heavenly Beds.
Located 12km from the Perth International Airport the property has 2300sqm of conference space, an outdoor infinity pool and development approval for a 36,545sqm commercial tower at the site.
The glossy 28-storey giant is also known for partnering with high-profile Melbourne celebrity chef Guy Grossi to deliver the Italian restaurant Garum, which delivers Roman inspired cuisine at the historic Hibernian Hall.
Across the river the Aloft Perth site will also garner strong attention with 224 rooms located close by to the Burswood entertainment area and the newly opened Optus Stadium.
The accommodation is ideal for attracting the business and conference market with 593sqm of seminar space and a 300sqm ballroom.
A neighbouring nine-storey office building on 25 Rowe Ave is also part of the offering, which includes seven levels totalling 10,409sqm, with tenants such as Honeywell, Bunnings, and a 509-bay car parking facility managed by Wilson Parking.
Both the Westin and Aloft are operated by Marriott International and benefit from the world-wide membership network.
The assets are available individually or ‘in-one-line’ and are being sold through an international expressions of interest campaign and the deal comes after several similar high-profile hotel asset transactions in Australia.
The Sheraton Melbourne sold at a price per key of $776,000 in 2017, and the InterContinental Double Bay Sydney at $1 million per room.