A landmark hotel asset in one of Queensland’s fastest-growing regional hubs has changed hands, with 90 North selling the Quest Springfield Central for $26.7 million, reflecting a yield of approximately 7.65%, to Serene Capital, a boutique funds management company.

Located at 4 Wellness Way, Springfield Central, the property was transacted by leading agency, Savills Australia and New Zealand, on behalf of Brabham (QS) Pty Ltd, marking a significant acquisition in the region’s thriving commercial and health precinct.

The modern 4-star apartment hotel, completed in 2018, comprises 82 serviced apartments and three additional tenancies, including Guardian Early Learning Centre, Better Life Pilates, and a vacant tenancy, occupying a prominent 2,795sqm site with a gross floor area of 6,633sqm. The asset is underpinned by three long-term leases, including a secure agreement with the globally recognised Quest Hotels brand extending to 2043 and benefits from fixed annual rental increases.

Commenting on the sale, Nick Lower, National Director, Hotels at Savills Australia and New Zealand, said: “Quest Springfield Central presented a rare opportunity to secure a high-quality, income-generating asset in one of Australia’s most dynamic growth corridors. The strong result reflects the sustained depth of capital targeting well-leased hotel investments backed by leading brands and long-term fundamentals.

“This acquisition reflects Serene Capital’s strategic focus on assets that deliver stable, long-term returns. With the strength of the Quest brand and long-term lease security, the property offers a secure income stream backed by a proven franchise model,” Mr Lower said.

Springfield Central continues to be driven by sustained investment in health, education, and sporting infrastructure. The hotel is ideally positioned within the Health City precinct, directly opposite the Mater Private Hospital and adjacent to the soon-to-be-completed 174-bed Mater Public Hospital, ensuring ongoing demand for quality accommodation.

Max Cooper, Director, Hotels at Savills Australia and New Zealand, added: “The sale to Serene Capital underscores the robust demand from institutional investors seeking exposure to high-performing accommodation assets, particularly in growth precincts associated with healthcare and infrastructure development.

“Notably, the asset’s passing net income has increased from $1.98 million to $2.043 million, reflecting a passing yield of 7.65%. These strong fundamentals, combined with the long-term lease to Quest, make Quest Springfield Central a truly future-proofed investment.”

The region’s broader development is also fuelling demand for short and long-stay accommodation. In addition to its expanding health sector, Springfield is seeing major investment in sporting infrastructure, including the newly developed Brisbane Lions AFL sports centre and cutting-edge club facilities, further enhancing its appeal to both business and leisure travellers.

The sale represents continued investor appetite for well-leased hotel assets in high-growth locations, particularly those anchored by reputable operators like Quest.