Sydney Airport Suites will soon welcome the arrival of a new owner after being put on the market by JLL.

Situated at the corner of Botany Road and Wentworth Avenue in Mascot, the strata-approved property incorporates 35 fully furnished self-contained apartments, including three two-bedroom, 24 one-bedroom and 8 studio apartments, as well 26 car parking spaces.

At a glance: 

• Sydney Airport Suites at 1285 Botany Road, Mascot is being offered for sale through JLL.
• The strata-approved property incorporates 35 fully furnished self-contained apartments, including a mix two-bedroom, one-bedroom and studio apartments.
• JLL’s Hotel and Hospitality Group Senior Vice President Andrew Langsford and Director of Sales and Investments, Dylan McEvoy have been appointed to manage an expressions of interest campaign, which closes on Thursday, April 16.

The property, which was originally built in 2003, occupies a 1,063 sqm (approx.) site at 1285 Botany Road, with a building area totalling approximately 3,055 square metres.

Currently operated by AEA Hotels as serviced apartments, the property is being offered for sale in-one-line with vacant possession, or with the option of ongoing management- giving buyers the opportunity to continue with returns offered under its serviced apartment use, or to reposition the property for residential use or student accommodation, subject to council approval.

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An aerial view of the site. Source: JLL

Botany Road has recently benefited from significant upgrades, and is surrounded by significant economic activity from Australia’s busiest shipping hub and airport.

Port Botany is the largest container port in Australia and a significant business driver for the property.

JLL Hotels and Hospitality Group Senior Vice President Andrew Langsford and Director of Sales and Investments, Dylan McEvoy have been appointed to sell the asset via an expressions-of-interest campaign, with the latter saying the property would be attractive to both institutional investors and high-net-worth individuals.

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A view of Sydney from Mascot. Source: JLL 

“Investors have been chasing yield and we have seen strong demand for in-one-line apartment block sales, this property offers the benefit of an existing approval to convert the top floor apartments to residential use," he said.

“Sydney’s real-estate market has also seen a growing trend of ‘alternative accommodation’ operators and investors greatly expand their footprint in the market,” Mr. McEvoy said.

Mr Langsford said Sydney had one of the strongest and resilient hotel markets in Asia Pacific, delivering some of the highest occupancies across the region.

Expressions of interest for Sydney Airport Suites close Thursday, 16th April, 2020.

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