251-Key Five-Star Sofitel For Sale, Adelaide, Australia
Location: Currie Street, an island site in Adelaide’s CBD, within close proximity to the city’s premium commercial office buildings and leisure demand drivers
Name: Sofitel Adelaide
Guide Price: AUD$180m plus
Guide Price per Key: AUD$720k+
No. of Keys: 251 rooms and suites (25)…32-storey building, of which the hotel occupies the first 24 floors, with 69 apartments above, fully sold
The Opportunity:
Opened in November 2021, the Hotel is the first internationally branded five-star hotel to be built in Adelaide in 30 years, and forms part of a 32-story mixed-use tower.
Built by one of South Australia’s most respected construction firms Palumbo, with interiors designed by one of Asia’s most renowned architecture design firms, P49 DEESIGN, the Sofitel Adelaide resets the benchmark for Australian city hotel luxury, with a thoughtful mix of old-world charm and modern design.
Sofitel Adelaide’s 251 luxurious guestrooms and suites feature sumptuous, residential- style interiors which are French colonial style adapted to a modern contemporary aesthetic — a subtle reference to the history and character of Adelaide.
The Hotel also features a world-class food and beverage offering with Garçon Bleu Restaurant & Wine Bar, Club Millésime Lounge and lobby café bar DeJa vu. Other premium luxury facilities include a heated indoor swimming pool, SO Fit Gymnasium with state-of-the-art Technogym equipment, and flexible meeting and event spaces.
The Property occupies an envious island site in the heart of Adelaide city, featuring an internal porte-cochère for an enhanced guest arrival experience. The offering includes two flexible retail tenancies fronting Rosina Street and Solomon Street to the rear – Adelaide’s latest laneway conversion project delivering an enhanced pedestrian amenity (known as Arts Alley).
The Hotel offers superb connectivity to some of Adelaide’s biggest corporate and leisure demand drivers, including Adelaide Central Market, Rundle Mall, Adelaide Oval, TAFE SA, Light Square, Royal Adelaide Hospital and Adelaide Convention Centre.
Operating under a management agreement with AccorHotels (HMA), the property enjoys the marketing and distribution networks of the largest hotel group in Asia Pacific.
The award winning Sofitel Adelaide sets the benchmark for five star luxury city hotels in Australia. The Sofitel Adelaide provides an excellent opportunity to acquire a flagship five-star asset in one of Australasia’s most resilient investment destinations.
Following the recent completion of the AUD$2.3 billion Royal Adelaide Hospital, Adelaide has embarked on a record phase of private and public infrastructure and amenity investment which will exceed $10 billion over the next three years. These projects notably include the $3.6 billion Australian Bragg Centre, the $2 billion Lot Fourteen mixed-use precinct and the new $700 million Riverbank Arena Stadium. With the continued investment underway, it provides an excellent backbone to supporting the strength of Adelaide’s demand growth into the future.
The Sofitel Adelaide enjoys an island site position, affording it with rear lane access onto one of Adelaide’s newest laneway conversion precincts — Solomon Street. Completed in early 2022, the revived laneway has established itself as a nightlife destination and is an emerging artistic and food and beverage precinct. The offering of the Sofitel Adelaide contains two currently vacant flexible retail spaces totalling 199m² of lettable area, including a dual level with 124m² corner tenancy, and a 76m² single level outlet.
The Sofitel Adelaide offers 251 guest rooms including 25 suites across seven varying guest room types, all of which have been adapted from opulent French colonial design including opulently finished Carrera marble highlights.
The pièce de resistance is Sofitel’s palatial Presidential Suite. The embodiment of luxury living, Sofitel Adelaide’s Presidential Suite includes an extensive dining room and open living room concept, walk-in wardrobe, private study and a grand bedroom with an additional ensuited bathroom.
A summary of the Hotel’s guest room inventory is as follows:
• Double-glazed windows
• City skyline or coastal view
• Luxurious Sofitel MyBeds™
• Turndown service
• Pillow menu
• Walk-in rain shower
• Balmain Paris amenities
• Complimentary WiFi
• 55” Smart TV
• Foxtel and movies
• Digital compendium
• Bluetooth speaker
• Espresso Coffee Machine
• In-room security safe
• Mini Bar
• Functional workspace
• Hairdryer
For sale by Expressions of Interest closing Friday, 12 August 2022 2:00pm (AEST)
Flag & Management: Currently Accor’s Sofitel brand
Current Owner: Local private family construction firm, that have worked on the project for the past ten years
Main Photo: The CBD of Adelaide, showing the location of the Sofitel
Financials: Full access to the dataroom with EOI
Tenure: Freehold stratum
Agent: Jointly marketed by CBRE & Savills locally. THPT would need to be retained by the buyer
Date Posted: July 2022
THPT Comment: This fab new development, opened in November 2021 would be a credit to any hotel investment fund, complete with Accor’s Sofitel brand and management….EOIs required by 22nd August…call us at THPT for more info
Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each week we mail the opportunities posted in that period, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all.
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market. For more information – Visit www.thpt.co.uk or email info@thpt.co.uk
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.
