The Sunnybank Star Hotel & Apartments, situated in an outstanding location in the emerging Brisbane market, is being offered for sale by JLL Hotels & Hospitality Group’s Gareth Closter by Expressions of Interest.

The Sunnybank Star Hotel & Apartments benefits from strong local demand drivers and is one of the closest hotels to the QSAC (Queensland Sport & Athletics Centre formerly known as QEII Stadium) which is earmarked as a possible venue for the Brisbane 2032 Olympic Games.

“The Brisbane market provides an undeniable platform for growth in the accommodation sector as we move towards the Brisbane 2032 Olympic Games. This iconic event, in addition to the unprecedented infrastructure spending and substantial construction constraints in the market, presents an extremely unique opportunity for hotel operators and investors,” Mr Closter said.

Image Supplied - JLL Hotels & Hospitality Group

The hotel comprises 60 rooms, apartments and townhouses and a 4-bedroom manager’s residence, and is complemented by an outdoor pool and BBQ area. It provides excellent accommodation that suits short term travellers, and could also cater to longer term or permanent accommodation needs given the housing crisis in South East Queensland.

The property offers a rare opportunity in the Brisbane hotel market to secure a hotel of relative scale, capable of being operated under management, with vacant possession of brand and management, providing the ultimate flexibility for an incoming purchaser.

“The Brisbane market has limited vacant possession freehold going concern metropolitan hotels due to long term benign supply. The Sunnybank Star Hotel & Apartments offers an extremely rare opportunity in an extremely tightly held market,” Mr Closter remarked.

All rooms have been refurbished, with the hotel generating strong trading that could be further maximised to increase the financial performance of the property. The current RevPAR of just under $90 (for the FY23) provides substantial scope for upside in trading performance, given the strength of the Brisbane mid-scale hotel market.

The hotel is situated on a sprawling site of 8,164sqm that offers future development potential, subject to development approval. The rooms are a generous size, with the 39 hotel rooms ranging from 29sqm to 40sqm, and the 21 two-bedroom apartments and townhouses ranging from 61sqm to 78sqm.

The Sunnybank Star Hotel & Apartments is being offered for sale by Expressions of Interest closing Wednesday 12th June 2024. To request more detail on the sale please contact JLL Hotels & Hospitality’s Gareth Closter via the contact details below.