The Holiday Inn West Perth has been listed for sale by local vendors Australian Development Capital.
Located at 1309 Hay Street, the 804sqm freehold site features a heritage-listed two-storey building at the front occupied by Julio’s, a renowned Perth restaurant and bar.
The hotel opened in 2016 and has recently signed a new management agreement with world leading hotel group IHG.
Compromising 101 contemporary guestrooms, the near-new hotel has views across Perth city and additional amenities including a gymnasium and two meeting rooms.
Regarded as one of the top accommodation venues in West Perth, the Holiday Inn caters to both corporate and leisure tourist demand, being situated within the second largest office precinct, next to the CBD.
CBRE’s Aaron Desange and Ryan McGinnity have been appointed to steer the sale campaign on behalf of the vendors.
“The asset offers an incoming purchaser a great investment opportunity, well-placed to enjoy strong future performance over the coming years as cashflows re-stabilise in a market poised for economic growth. The recovery of the Perth hotel market has been quicker than anticipated largely supported by the continued longevity of WA’s resource sector,” Mr Desange said.
Mr McGinnity added, “We expect the marketing campaign will attract wide ranging interest from both domestic and international investors that remain focused on acquiring mid-market hotel assets in Australian capital cities. We have seen a number of new entrants to the hospitality investment landscape in 2022, many of whom are well capitalised and looking to expand their portfolio.
The Holiday Inn West Perth is being offered for sale via Expressions of Interest closing Wednesday 7 December 2022.
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