Radisson Hotel Darling Harbour for sale for $40 million - Colliers International
Contact
Radisson Hotel Darling Harbour for sale for $40 million - Colliers International
Colliers International's Gus Moors and Karen Wales have been exclusively appointed to sell the Radisson Hotel and Suites, Darling Harbour, for an indicative price of more than $40 million.
-
Colliers InternationalThe entrance of the Radisson Hotel in Darling Harbour.
A hotel in Sydney's Darling Harbour is on the market, offering investors the opportunity to secure a strategic position in the city's CBD.
Part of a mixed-use development, the 100-room Radisson Hotel at 72 Liverpool Street incorporates 76 strata freehold serviced apartments, freehold interest in the lobby, restaurant and conference space, and freehold interest inSight car parking spaces.
At a glance:
- The Radisson Hotel in Sydney's Darling is on the market with price expectations of more than $40 million.
- The sale is being managed by Gus Moors and Karen Wales of Colliers International.
- Located at 72 Liverpool Street, the hotel includes 76 strata freehold serviced apartments, freehold interest in the lobby, restaurant and conference space, and freehold interest inSight car parking spaces.
Gus Moors and Karen Wales of Colliers are managing the sale of the hotel, which includes leasehold interests in an additional 24 serviced apartments and a further ten leased car parking spaces.
While the hotel is currently operating under an agreement with Radisson Hotels Asia Pacific until August 31, 2022, early termination would allow an incoming purchaser to buy the property with freehold vacant possession.
Source: Colliers International
Mr Moors told WILLIAMS the Radisson offered investors the opportunity to gain a foothold and capitalise on the medium-term growth in the sector, with the historically low currency also creating another incentive for offshore buyers.
“The Radisson Hotel is ideally located in Sydney’s midtown precinct with access to a broad base of demand and close to public transport, the International Convention Centre, entertainment and shopping amenity and the prime Darling Park office precincts," he said.
Source: Radisson Hotels
"As such, the hotel holds strong appeal for corporate and leisure-focused guests.
"The long and medium-term fundamentals of the Sydney hotel market remain strong and will ensure it is keenly sought after following the recovery from Covid-19."
His sentiments were echoed by Ms Wales, who said the hotel had built a "strong track record of delivering healthy returns" since it opened in 1998.
The Radisson Hotel is being offered for sale by Expression of Interest closing Monday 18th May at 12pm (AEDT).
THIS IS A SPONSORED FEATURE ARTICLE
Similar to this:
Radisson RED to make Australian debut with West Perth hotel
Radisson Hotel Group expands in Australia with new signing the Imperial Hotel
