Locations: South Wharf, Glen Waverley and Airport, Melbourne, Victoria, Australia
Names: Novotel Melbourne South Wharf, ibis Glen Waverley and
ibis Budget Melbourne Airport
Guide Price: AUD 180m, 40m and 12m – $232m for all three
No. of Keys: 347, 155 and 73 – 575 in total
The Opportunity: This portfolio comprised of: Flagship Novotel Melbourne South Wharf, a 347 room 4.5 star hotel located immediately adjacent to the Melbourne Convention and Exhibition Centre, which typically delivers more than 1,000 events each year, opened 2018….Leasehold expiring 2108.
3.5 star 155 room Ibis Glen Waverley Hotel, situated in the heart of Glen Waverley’s activity centre, in close proximity to the Glen Waverley train station, and with exposure to Springvale Road, one of Melbourne’s major arterials, opened 2007. Freehold
73 room Ibis Budget Melbourne Airport, situated just 400m from Melbourne Domestic and International Airport, and 20 minutes from the Melbourne city centre, making it an affordable option for stop overs and economy travellers, opened 2004. Leasehold expiring 2047
The properties are offered as a portfolio or individually. The three hotels are on a 20-year HMA with Accor, with varying VP dates in 2023, 2027 and xx. A full IM is available.
Main Picture: The Novotel Melbourne South Wharf
Current Owners: Action Hotels
Flag and Management: Under Accor HMAs
Financials: Available on signing of NDA
Tenure: Freehold & Leasehold as above
Agent: CBRE…THPT would need to act for the buyer
Guide Price: AUD 232m for all three
Guide Price per Key: AUD 403,478…the hotels are available individually at $518,732, $258065 and $164,384 per key.
Date Posted: February 2021
THPT Comment: Fab opportunity to secure this portfolio of three hotels, well-located in Melbourne. Buyer can rebrand/flag at differing times in the next few years, or renew with Accor.
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This is a new feature on the THPT site…. 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 fortnight we mail the opportunities posted that week, 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.
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.