Chelsea Hotel Chatswood sold for $30.5 million by JLL
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Chelsea Hotel Chatswood sold for $30.5 million by JLL
Gallagher Hotels freehold going concern of the Chatswood Chelsea Hotel sold by JLL Hotels Ben McDonald and John Musca.
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JLLChelsea Hotel Chatswood sold for $30.5 million by JLL -
Chelsea Hotel Chatswood sold for $30.5 million by JLL -
Chelsea Hotel Chatswood sold for $30.5 million by JLL
Ben McDonald and John Musca of JLL's Hotels & Hospitality Group confirmed the sale of the freehold going concern interest in the Chelsea Hotel, Chatswood for $30.5 million on behalf of Patrick J. Gallagher and Gallagher Hotels.
Ben McDonald, Senior Vice President, JLL Hotels & Hospitality Group, told The Hotel Conversation, “Chelsea Hotel presents as an ideal ‘bolt on’ acquisition given the low cost operating model and is sure to provide the incoming purchaser with an opportunity to capitalise on the enormous near term growth prospects of Chatswood’s town centre and railway precinct.”
"We are firm believers in the trading opportunity that Chelsea offers with the diminishing availability of comparable hotel opportunities in the market a key driver of interest in the campaign.”
JLL Hotels & Hospitality Group offered the Chelsea Hotel, Chatswood for sale by Expressions of Interest closing Tuesday 18th October 2022.
Located in what is knowingly considered the Golden Triangle of trading demographics, the hotel sits opposite the entrance to burgeoning Chatswood Station and offers 30 gaming machines entitlements, bistro, bistro bar and public bar. It also comes with the benefit of a recent DA approval for a beer garden deck which the new owners can construct immediately. In addition, the hotel recently received council approval to extend the trading hours from 1am to 4am, a literal gamechanger once the final ILGA application approval is achieved.
At the time of marketing, JLL Hotels Managing Director John Musca said, “There are only two other hotels in Chatswood, with the Orchard Hotel consistently ranking in the Top 20 in the state and the Monkey Bar also ranking within the Top 100. Both of these hotels are also multi-level strata offerings like the Chelsea and demonstrate that the density of the commercial, residential and retail population in the immediate Chatswood precinct is the ultimate perennial business driver.”
To request a sales analysis please contact either of the JLL selling agents Ben McDonald and John Musca via the below contact details.
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Chelsea Hotel Chatswood sold for $30.5 million by JLL
