Perth’s DoubleTree hotel sale tipped to eclipse $100m
Perth’s newest four-star hotel, DoubleTree by Hilton Perth-Northbridge, has been listed for sale by Malaysian-based developer SKS Group, with offers of about $100 million expected.
The hotel, located on a site area of 2699sqm, has 206 guest rooms over 15 levels and is subject to a 15-year management agreement with Hilton Hotels.
Hilton manages an four other venues under the DoubleTree brand in Melbourne, Cairns, Darwin and Alice Springs.
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SKS Group is currently developing what will become the next venue under the brand, DoubleTree by Hilton Perth-Waterfront.
CBRE’s Aaron Desange, Ryan McGinnity and Chloe Mason are marketing the new hotel in the heart of Perth’s entertainment and cultural precinct, Northbridge.
McGinnity says the sale coincides with an exciting period of growth in the city’s hotel market.
“The opportunity to purchase DoubleTree by Hilton Northbridge is expected to attract demand from both offshore and local groups, following in the path of major transactions, including Holiday Inn Perth, Aloft Perth and Westin Perth,” McGinnity says.
Desange says the sale represents an outstanding opportunity to acquire a world-class hotel in a premier location.
“DoubleTree by Hilton Perth-Northbridge is an outstanding new hotel located at the heart of Perth’s rapidly evolving cultural and entertainment precinct. Its premier location offers easy access to Perth’s office district, capturing both the corporate market and catering to leisure guests,” Desange says.
This article originally appeared on www.theaustralian.com.au/property.
