Colliers and Ray White Commercial, as Joint Exclusive Agents, present an exceptional opportunity to acquire a significant investment grade asset underwritten by a long-term lease covenant at 3 The Crescent Midland.

Located within the heart of the central Midland Business District sits one of Australasia’s leading apartment hotel brands Quest Hotel Midland. Opening in March 2018, Quest Midland is the newest and only dedicated Hotel accommodation asset building in the area. 
The seven-level apartment hotel offers 55 serviced apartments (102 keys) including studios, one-bedroom and two-bedroom apartments ideal for corporate guests, families or large groups travelling for extended stays, offering complete kitchen and laundry facilities, gymnasium and more.

Colliers Director of Investment Services Western Australia, James Baker said “The Quest Midland provides a compelling investment opportunity to acquire an asset with an outstanding income stream and long-term tenant covenants. The property benefits from the long security of a trusted Australian Brand plus office tenancies including tenants such as Minister for Works and Mission Australia.”

An eastern suburb of Perth, Midland is located approximately 17km from the CBD and 9km from Perth Airport. Identified as a Strategic Metropolitan Centre (SMC), Midland is the leading commercial destination in the region and a key current and future business area for the City of Swan.
Midland is the heart of the City of Swan and acts as a gateway to the Wheatbelt due to its accessibility via Great Northern Highway, Great Eastern Highway and Reid Highway. Midland comprises public and private hospitals, lower and secondary schooling, tertiary education (Universities and TAFE campuses) as well as employment generators such as the WA Police Force, WA Land Authority headquarters (Landgate) and many other Government services such as the Metronet Railcar Manufacturing Facility.

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Ray White Commercial’s Director of Capital Markets, Brett Wilkins said “This is an opportunity to acquire an investment grade asset situated in a region that has a strong forecast for population growth and significant investment from the State Government including the recently completed Metronet Railcar Manufacturing facility with a total commitment of $1.6billion over a 10 year period contributing to over 200 long terms jobs.”
The Midland master plan was formed under the MRA (now DevelopmentWA) to revitalise and bring economic, social and environmental benefits to the region. As part of the plan, Midland is transforming into a medical and education hub to contribute approximately $400 million to the local economy and $1 billion to the state per annum.

Colliers State Chief Executive Western Australia, Richard Cash said “as an investor, it’s important to place your investment in a secure asset with future development potential. Midland and The City of Swan are experiencing significant growth and rejuvenation through various projects including the recently renovated Midland Gate Shopping Centre, Metronet’s Midland Station, St John of God Midland Hospital, Curtin’s University campus, and the New Junction Project including commercial, residential and community uses. All of these projects are extremely important to investors as it will create hundreds of additional jobs and increase visitation to the area.

3 The Crescent, Midland is being offered For Sale via Expressions of Interest closing Wednesday 19th October 2022 at 2pm (AWST).

For more information, please contact the selling agents via the below contact details.

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