Perth

Heritage listed Perth YHA hits the market

The heritage-listed Perth City YHA is being offered for sale – unlocking 2,000sqm of prime real estate in the CBD.

14 Oct 2020

The heritage-listed Perth City YHA is being offered for sale – unlocking 2,000sqm of prime real estate in the CBD.

Located at 300 Wellington Street, the art deco building was built in the 1940s as the headquarters for the St John Ambulance Association and accommodating affiliated services such as the fire brigade. The four-storey building was heritage-listed in 2001 and extensively renovated and refurbished when it became home to Perth City YHA in 2006.

Located at the northern end of Perth’s CBD, the Perth City YHA comprises 240 beds within 70 rooms, as well as a swimming pool, gym and fully equipped kitchen. The hostel is within easy walking distance to Perth’s Underground and Elizabeth Quay train stations, and Wellington Street bus port.

CBRE’s Ryan McGinnity and Aaron Desange have been appointed to market the property for sale via an Expressions of Interest campaign.

Mr Desange said the hostel’s location would be a key selling factor.

“The hostel has an enviable position in Perth’s CBD, which will underpin buyer interest – being close to public transport links, small bars and restaurants as well as Perth Arena and only a short train journey to Optus Stadium.” Mr Desange said.

“An incoming owner will be well-placed to benefit from the hostel’s central location, modern design and strong support from domestic and international travellers over the coming years.”

Mr McGinnity said while the local tourism sector had been challenged by COVID-19, activity was expected to pick up as restrictions eased.

“Prior to the onset of COVID-19, Australia experienced over one million backpackers in 2019 with strong growth levels of around 6.5% per annum. While no one expects life to return to normal immediately, we do expect foreign and domestic travellers to return to Perth once borders reopen”, Mr McGinnity explained.

The Perth City YHA is being offered for sale via Expressions of Interest.

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About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.