The award-winning, Alexander Lotersztain designed hotel was marketed by CBRE Hotels’ agents Hayley Manvell, Paul Fraser and Wayne Bunz.

Opened in 2008, the 4-star boutique hotel comprises 21 guest rooms and a rooftop bar featuring two plunge pools. The incoming purchasers plan to revamp the hotel with the introduction of new guest services.

The hotel was sold after Receivers were appointed to former Doughnut Time owner and hospitality entrepreneur Damian Griffiths.

“The investment fundamentals for this asset are truly compelling and, as such, the asset was highly sought after, with the sales campaign attracting approximately 150 enquiries from a range of hospitality owner operators, funds and investors,” Ms Manvell said.

“The asset also generated interest from several offshore investors, with the phenomenal response reflecting the strong marketing campaign and the high-profile nature of this asset.”

Arnaud Millecamps, of hotel investment advisory firm Prime Square, assisted the purchasers in the acquisition.

CBRE’s Mr Fraser said; “The refresh of the Limes Hotel will provide a boost for Brisbane’s Fortitude Valley precinct and we are excited to see the direction the new owners take for this renowned property.”

See also:

ErdiGroup's Hotel Urban Brisbane sold to Facilimate for $31 million

Westin Brisbane hotel opening 8 November 2018

Brisbane's Calile Hotel on James Street now taking bookings for September 24th opening date