Investment Property
For Sale
  • Leisure

    • Rare CBD Hotel Acquisition Opportunity – Within Melbourne’s Best-Known Address

    97-103 Elizabeth Street, Melbourne, Victoria 3000 Australia
    Investment Property
    For Sale
  • Leisure

    • Rare CBD Hotel Acquisition Opportunity – Within Melbourne’s Best-Known Address

    97-103 Elizabeth Street, Melbourne, Victoria 3000 Australia
    Building Size
    2,360 SQM
    Lot Size
    702 SQM
    Building Size
    2,360 SQM
    Lot Size
    702 SQM

    OVERVIEW

    Cushman & Wakefield and CBRE are pleased to present for sale 97-103 Elizabeth Street, Melbourne – IBIS Budget Melbourne CBD.


    The IBIS Budget Melbourne CBD represents an exceptional opportunity to - enter the highly sought after Melbourne hotel market with a -robust performing CBD 3.0 Star Hotel in a strategic inner city location. The 146-room hotel with its associated facilities provides a potential investor with short-term secure income whilst also providing a possibility for significant refurbishment and value-add future opportunity.


    - Prime Melbourne CBD location along one of Australia’s best-known addresses, situated between Collins and Bourke Street.

    - Operated by Accor Hotels, Australia’s largest hotel management company featuring 5,584 locations in over 110 countries.

    - 146 guest room hotels with 3.0-star rating, 24-hour reception, food, and beverage outlets.

    - Tightly held Melbourne hotel market experiencing strong rebound since COVID lockdowns with majority of new stock around 4.0-5.0-star market strongly lifting the demand for budget accommodation within the Melbourne CBD.

    - Recent capex spent over the past few years which includes significant refurbishments including the replacement of lifts.

    - Favourable management agreement for incoming purchaser with opportunity to refurbish and value-add upon completion of agreement whilst benefitting from short-term secure income.

    - Prime student accommodation or co-living value-add opportunity in an economic landscape whereby the demand for housing is currently not meeting supply.

    - Significant capital growth opportunity to create a Melbourne hospitality icon through refurbishment and refreshment program and increase rate per night charged.


    *Approx.


    For Sale by International Expressions of Interest Closing Thursday 14 November 2024 at 12pm (AEDT).


    For further information or to arrange an inspection of the property please contact the Cushman & Wakefield or CBRE teams as conjunctional selling agents:


    Cushman & Wakefield


    Daniel Wolman | +61 412 957 839

     Oliver Hay | +61 419 528 540

    Leon Ma 马海翔 | +61 417 070 725 


    CBRE


    Wayne Bunz | 0419 698 640

    Scott Callow | 0418 153 606

    - Melbourne CBD

    CONTACT

    • Daniel-Wolman
      Daniel Wolman

      International Director & Co-Head Investment Sales, Victoria
      Melbourne, Australia

    • Oliver-Hay
      Oliver Hay

      International Director & Co-Head Investment Sales, Victoria
      Melbourne, Australia

    Key Features
    • 146 Guest Rooms
    • Value-Add or Refurb Opportunity
    • Acquire Below Replacement Value

    Details

    Building Size:
    2,360 SQM
    Sale Price:
    Negotiable
    Lot Size:
    702 SQM

    CONTACT

    • Daniel-Wolman
      Daniel Wolman

      International Director & Co-Head Investment Sales, Victoria
      Melbourne, Australia

    • Oliver-Hay
      Oliver Hay

      International Director & Co-Head Investment Sales, Victoria
      Melbourne, Australia

    Rare CBD Hotel Acquisition Opportunity – Within Melbourne’s Best-Known Address

    AVAILABILITIES

    SORT: AVAILABLE SPACE

    LOCATION

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