Ibis Styles Port Macquarie sold by HTL Property on behalf of Elanor Investors Group
Contact
Ibis Styles Port Macquarie sold by HTL Property on behalf of Elanor Investors Group
The 45-room Ibis Styles Port Macquarie sold to national sporting organisation by HTL Property Directors Nic Simarro, James Carrick and National Director, Andrew Jackson.
-
HTL PropertyIbis Styles Port Macquarie sold by HTL Property -
Ibis Styles Port Macquarie sold by HTL Property -
Ibis Styles Port Macquarie sold by HTL Property
HTL Property, on behalf of Elanor Investors Group, is pleased to announce the sale of Ibis Styles Port Macquarie to one of Australia’s leading sporting organisations.
Ibis Styles Port Macquarie was exclusively presented to the market by HTL Property Directors Nic Simarro, James Carrick and National Director, Andrew Jackson via an Expression of interest campaign.
The 45-room Ibis Styles Port Macquarie is located on the prominent beachfront headland at Stewart Street, and boasts unobstructed and panoramic views of the ocean from the majority of its rooms and restaurant. The property is positioned directly opposite the picturesque Town Beach; and only a short stroll from Port Macquarie's central business district.
In a hotly contested sales process, HTL Property generated 8 formal Offers to Purchase the property. This sale price reflects $344,444 per room and a 7.4% initial yield. Furthermore, the property was exchanged and settled within 8 weeks of closing the EOI.
"HTL Property is delighted to have achieved the target price for this outstanding asset, based upon our client’s June 24 book valuations” advised HTL Property Director, Nic Simarro
"This successful sale further underwrites our recent view regarding continued and extensive demand for core assets in key locations; and accordingly we are excited to see the Purchaser take this asset to the next level in the form of refurbishment and possible rebranding" added Simarro.
"This is the second time we have sold this asset in the past decade, following our sale in 2016 to Elanor Investors Group" added HTL Property National Director, Andrew Jackson.
"It has been rewarding working with both Elanor Investors Group and the Purchaser in order to achieve this mutually beneficial outcome, and we can only predict the Purchaser will enjoy prosperous capital growth over the years moving forward” concluded Jackson.
Related Readings
Boutique Beachfront Hotel Port Macquarie for Sale by HTL Property
North Coast freehold going concern motel sold by HTL Property
Waterfront Port Macquarie CBD Motel Sold by HTL Property on Sharp Yield
