Sydney, 17 July 2014 – The 88 room Sleep Express Motel in Sydney’s
Chullora is being taken to market.
Hotels’ Andrew Jackson, together with Ray Larkin of Manenti Quinlan &
Associates, has been appointed to steer the sale of the freehold going concern
property is expected to generate strong interest from traditional moteliers, as
well as development groups and offshore investors seeking a foothold into
Sydney’s tightly held accommodation market.
motel sits on a large 4,200sqm, high visibility site with highway frontage on
one of Sydney’s busiest gateways, the Hume Highway.
budget motel which is located within close proximity to Olympic Park, with easy
access to the CBD, was built in 2000 to capitalize on the influx of tourists
following the Sydney Olympic Games.
three-storey property comprises 88 air-conditioned ensuite rooms, including 6
interconnecting rooms and has parking for 82 vehicles. The property also has a
breakfast room, commercial kitchen and manager’s residence, plus plans for
property is currently owner operated under management and will be offered with
Jackson commented; “I expect huge interest for this property. Sydney
accommodation assets are in high demand and anything taken to market has
generated unlimited interest and are selling at very strong prices.”
sold the Victoria Court Hotel in Potts Point on a 7.3% yield and the Newport
Mirage hotel on Sydney’s northern beaches has only just sold to an offshore
group for a very strong price” he said.
property will hold broad appeal because of the significant landholding, the
simplicity of this limited service budget operation, proximity to the CBD and
the numerous opportunities to reposition the business and enhance profitability.”
Larkin said; “Opportunities for private investors to enter the Sydney hotel
market are few and far between. Investors know that these assets have performed
very strongly over the past decade; they are an easy to operate cash flow
business and we expect them to continue to perform well in the future.”
is considered to be perhaps the most desirable hotel market in the country. The
consistent business demand and the fact that it is number one on the list of
places to visit for tourists means that it has performed well in the past and
will continue to do so.”
motel is well located to a huge range of demand generators and therefore draws
from a range of markets to deliver consistently strong revenues”
property has been owner operated and not affiliated with any major chain so
there exists a great opportunity to explore rebranding options and plug into a
global marketing and distribution channel to drive the performance of this
property is being offered for sale by expressions of interest closing on 21st
August. For more information please contact Andrew Jackson on 0405 355 972.
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