Brisbane, 11 February 2015 – The Kingsford Airport Hotel - the newest addition to Brisbane’s sought after Kingsford Smith Drive accommodation precinct - is to be offered to the market via an Expressions of Interest campaign.
Don Watson-Brown and Glenn Price of CBRE Hotels have been appointed to sell the freehold interest in the Hamilton property, which is situated in Brisbane’s inner north.
Mr Watson-Brown said the campaign was expected to generate significant interest, particularly from entities and individuals already associated with the domestic hotel and motel market.
“Brisbane is considered a secure and desirable investment market for properties of this type. The Kingsford is a brand new build hotel; it is beautifully designed and finished and is a welcome boutique addition to this historically strong trading precinct,” Mr Watson-Brown said.
The 4.5 star hotel is prominently located within the north-east airport corridor of Brisbane, in the heart of a major growth precinct where a series of new retail and residential development projects are underway.
Located on Kingsford Smith Drive, the hotel is within easy commuting distance of Brisbane Airport and the CBD and is located in close proximity of local restaurants and attractions including the Doomben and Eagle Farm racecourses.
Situated on a low maintenance, 810sqm land parcel, the hotel comprises 36 immaculate guest rooms and suites. Given its proximity to major motorways and arterial roads, Mr Watson-Brown said the Kingsford was a convenient base for both visitors and “in transit” guests, with the Brisbane CBD being within a 10 minute drive and the Sunshine and Gold Coasts being within an hour’s drive.
“The property offers an opportunity for both owner operators and investors alike, with significant branding and positioning potential to an incoming purchaser,” Mr Watson-Brown noted.
“The Kingsford Airport Hotel offering gives potential investors scope in relation to alternate and best use strategies for the property. As is, the current operational model offers lucrative returns on investment. An added attraction of this property is that it is offered as vacant possession, thus allowing for a rebranding or owner occupation. Repositioning and re-branding alternatives offer attractive potential yields through a variety of value add opportunities,” Mr Watson-Brown said.
CBRE’s Mr Price added; “Freehold going concern assets of this calibre are a rarity in the Brisbane market for a number of reasons, not the least of which being that they tend to become a generational investment and quite often held tightly due to the capital appreciation they generally provide. As such we expect that non-traditional institutional buyers, as well as traditional hotel buyers will express interest in this offering.”
The Expressions of Interest campaign closes Thursday 12th March at 2.00pm AEST (if not sold prior).
For Australian/international news or global stories, follow us on Twitter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
