ResortBrokers brokers Jacqueline Featherby and Chris Boschetti have sold the franchise of the 4.5-star, 76-room Quest Bundoora, 15 km northeast of central Melbourne and 20 km from Melbourne Airport.

Ms Featherby is one of ResortBrokers’ most successful Quest Apartment Hotels specialist brokers. In FY24, she sold five Quest businesses, including some of the largest ever sales: Quest Macquarie Park, Quest Liverpool and Quest Cronulla Beach.

“Demand for Quest properties is the strongest I’ve seen in my five years as a broker,” says Ms Featherby. “And not just for Quest businesses. I get a lot of enquiries for Quest freehold passive investments too.”

“Quest properties are in huge demand for a number of reasons. First, its structured business format franchise model is a proven winner. Quest also provides incredible ongoing support to its franchisees through dedicated franchise relationship managers.”

“Quest hotel’s consistently high quality attracts corporate travellers, and their hotels are always in strategic locations like Quest Bundoora, which has La Trobe University, Northpark Private Hospital, Bundoora Extended Care Centre, RMIT, University Hill Business Park and DFO Uni Hill. There’s also ample infrastructure in the pipeline which will set the new owner up with high demand for accommodation for many years to come.”

“All these things add up to strong businesses, which is why we’re also seeing unprecedented demand for Quest freehold passive investments. Franchisees’ strong businesses ensure the security of their investments.”

“High yielding leaseholds like Quest Bundoora have always been incredibly popular because they allow a capable lessee to run a property for far less than the cost of the freehold. In a market where occupancies and ADRs are strong and new supply is slow to come online, this makes them even more desirable for operators and lessees.”

Opened in 2012, Quest Bundoora was offered for sale with a 30-year lease. The apartment hotel’s quality has been recognised with several awards and nominations, including Quest Franchise of the Year in 2018.

The property comprises 71 serviced apartments and five townhouses with private courtyards, fully equipped kitchens, bathrooms, laundry facilities, and separate living and dining areas.