Melbourne's Ibis Little Bourke Street hotel sold
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Melbourne's Ibis Little Bourke Street hotel sold
Yeh’s Hotel Group have made their first entry into the Melbourne hotel market with the acquisition of the Ibis Little Bourke Street - now re-branded the Melbourne Hotel CBD in a deal negotiated by Peter Harper Nic MacFie JLL.
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IbisIbis Melbourne Little Bourke Street
Ibis Little Bourke Street has been sold to Yeh's Hotel Group in a deal negotiated by JLL.
Set to be rebranded as the Melbourne Hotel CBD, the property comprises a strata-titled economy hotel with 121 guest rooms, of which 56 guest rooms are together with the restaurant and bar, conference and meeting facilities and supporting front/back of house areas, owned in-one-line.
At a glance:
- Ibis Little Bourke Street in Melbourne has been sold to Yeh's Group.
- The property comprises a strata-titled economy hotel with 121 guest rooms.
- The deal was negotiated by Peter Harper and Nic MacFie of JLL.
The balance 65 rooms are leased from third-party owners.
In addition to being available with vacant possession of management, the property was considered to be an attractive entry-point for the tightly held Melbourne market and have a strong location in the heart of the Western Core and Flagstaff precincts of the CBD adjacent to Southern Cross Station.
The deal for Ibis Little Bourke Street was negotiated by Peter Harper and Nic Macfie from JLL.
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