Mandala Group has appointed Colliers International as exclusive agents to seek offers for the pre-purchase of a new build 220-room Travelodge hotel in Adelaide, scheduled to be completed in 2021.
Located at 18 Bentham Street in Adelaide, the DA approved hotel is being offered on a fund through basis with one of Adelaide’s most prominent and respected developer groups. The hotel is being offered with benefit of a Hotel Management Agreement with TFE Hotels. Gus Moors, Karen Wales and Oliver Totani of Colliers are managing the international Expressions of Interest Campaign.
The hotel is positioned within the highly coveted city square mile, in the business district of the Adelaide CBD, and just 100 metres to Adelaide Central Market, Chinatown and the Gouger Street Food Precinct. It is only a short walk to Adelaide Oval, the expanded Adelaide Convention Centre and Rundle Mall.
“Travelodge Adelaide offers an unrivalled opportunity to acquire a new, superbly located, mid-market hotel with one of Australia’s leading hotel operators,” said Gus Moors, Head of Hotels at Colliers International.
“This is a major new development for the city and will revitalise Bentham Street, creating vibrancy with the offering of new and improved accommodation around the core CBD and financial precinct.”
See also: All eyes on Adelaide as tourism numbers increase
Karen Wales, Director, Hotels at Colliers International added “Travelodge is a powerful mid-market brand, with the added benefit of a Management Agreement with TFE Hotels.”
“Adelaide is Australia’s fifth largest state capital and a growing point of entry for international visitors. International aviation capacity at Adelaide airport has increased 65 per cent since 2010 – the second highest level growth in Australia.”
See also: $165m Adelaide Airport expansion approved
The last two State Budgets have seen a record investment in infrastructure in South Australia, part of a commitment to stimulating the economy and improving the way of life. This will be further boosted by the Adelaide City Deal funding plan.
To discuss the EOI process in further detail, phone or email Karen Wales or Gus Moors via the below contact details.
This is a Feature Property
Gus Moors is also offering for sale Hotel Steyne Manly. Click the below link for further information:
Manly beachfront pub 'Hotel Steyne' for sale - Gus Moors, Colliers International
Click here to view other hotels for sale in South Australia on The Hotel Page.
See other Adelaide hotel projects:
Adelaide to welcome QT Hotel brand in $180m development
Westin Hotel Adelaide GPO redevelopment
IHG announces Crowne Plaza for Adelaide’s tallest building in 2020