Brand new Adina Hotel West Melbourne for sale - JLL
Contact
Brand new Adina Hotel West Melbourne for sale - JLL
The brand new Melbourne Adina Hotel West End is for sale by JLL’s Peter Harper, Nick MacFie and Josh Rutman.
-
JLL Hotels & Hospitality GroupAdina Hotel West Melbourne for sale.
The brand new Adina Hotel West End, which forms part of Trenerry Consortium’s landmark West End mixed use development on the northern edge of the CBD, has been put on the market.
JLL’s Peter Harper, Nick MacFie and Josh Rutman have been exclusively appointed to sell the property via an Expressions of Interest Campaign.
One of Melbourne’s finest mixed-use developments, West End is a showcase of resort-style living, designed by some of Australia’s most acclaimed architects, interior designers and landscape artists. In addition to the Adina Hotel West Melbourne, the large scale $395 million mixed use development consists of 378 luxury residential apartments, commercial office space, eight restaurants, a medical centre, supermarket, gym and 435 car parks.
A new concept of inner urban hospitality, the Adina Hotel West Melbourne was designed by a collaboration of architects and interior designers lead by Bruce Henderson Architects and CHT Architects. It features 99 studio, one and two bedroom apartments, a large ground floor restaurant (over two retail tenancies), a rooftop bar and 27 basement car parks.
“In what is becoming increasingly rare across the Australian hotel market, the hotel is operated under a long term 15-year lease agreement with TFE Hotels, while the retail tenancies are leased separately on 10 year initial terms. The overall WALE for the property is a very attractive 14.2 years,” said Peter Harper, Managing Director & Head of Investment Sales Australasia, Hotels & Hospitality Group.
“The hotel is proximate to several key commercial office precincts, much of Melbourne’s leisure tourism infrastructure, universities and hospitals. It is also poised to benefit from significant private and public development activity in the precinct and all of this bodes well for further investment returns through a well-structured turn-over rental component in the lease which captures medium to long term growth,” added Nick MacFie, Associate, Hotels & Hospitality Group.
“Across all real estate sectors there is a clear fight to quality in 2021 and with a prime location, brand new building, secure long term income profile and significant tax depreciation benefits, there’s no doubt Adina Hotel West End will be highly sought by traditional and new entrant investors,” said Josh Rutman, Head of Middle and Metropolitan Markets.
For more innfomation contact Peter Harper, Nick MacFie and Josh Rutman via the contact form below.
To view the listing click here.
Similar to this:
Beachcomber Hotel Sold $20m to Oscars Hotel Group by JLL
The Criterion Hotel for sale for the first time in 20 years JLL
