The brand-new 200-room, 5-star Midnight Hotel in the nation’s capital is being offered for sale by Mark Durran, Managing Director at JLL Hotels & Hospitality Group.
Providing 200 large guest suites, the hotel will offer modern guest amenities and facilities including a distinct restaurant & café, bar, high-tech gym, sauna, conference and meeting rooms, and an indoor infinity edge swimming pool.
A central atrium open to the elements will host artwork and design pieces in keeping with the hotel’s industrial chic setting, and will merge seamlessly with the communal F&B space as the focal point for the development.
Click here to view the further photography and Mark Durran's contact details on The Hotel Page.
Mark Durran, Managing Director at JLL Hotels & Hospitality Group told WILLIAMS MEDIA, “The Midnight Hotel is set to become an iconic addition to the fashionable suburb of Braddon located along the city’s main thoroughfare of Northbourne Avenue, and in close proximity to Canberra’s major demand generators and multiple entertainment and lifestyle venues surrounding the site”.
With the recent introduction of new short-haul international flights to Canberra Airport the city is expected to achieve continued RevPAR growth, welcoming direct routes from Doha, Wellington and Singapore.
“Over the past three years Canberra has achieved increases in both occupancy and ADR, resulting in per annum average RevPAR increases of 6.0% since 2014” said Mr Durran.
According to the 2018/19 Budget, the territory is on track to achieve their goal of $2.5 billion in overnight visitor expenditure per annum by 2020.
The city of Canberra has one of the strongest job markets in Australia and residents enjoy the highest average level of disposable income of any Australian city. A strong and secure local economy has demonstrated recent solid growth in both GDP and employment, and the city is forecast for robust population growth in the near future. With its eclectic arts and cultural calendar, pristine natural environment and thriving culinary scene, Canberra was recently named one of the world’s top 10 cities to visit in 2018, ranking #3 in the Lonely Planet’s ‘Top 10 Cities’ list.
The Canberra Metro is currently under construction at a cost of close to $1.0 billion, and the Midnight Hotel will benefit from direct access from the adjacent Elouera Street station that is due for completion in 2019, connecting guests with Canberra’s key districts.
The Midnight Hotel is being offered vacant possession of brand or management allowing an incoming investor a wide range of management options to suit their needs. The hotel is being presented to the market by way of a turnkey take out upon completion, and sold via a public International Expression of Interest (“EOI”) campaign closing 1 November 2018.
Click here to view the further photography and Mark Durran's contact details on The Hotel Page.