Sydney Radisson Hotel and Suites hits the open market

Colliers International have been exclusively appointed to sell the Radisson Hotel and Suites, Darling Harbour, for an indicative price of $40 million plus. 

Gus Moors and Karen Wales of Colliers are managing the sale of the hotel, located at 72 Liverpool Street in Sydney, NSW. The Radisson forms part of a mixed-use development, incorporating 76 strata freehold serviced apartments, freehold interest in the lobby, restaurant & conference space and freehold interest in eight car parking spaces.

The offering also incorporates leasehold interests in an additional 24 serviced apartments and a further ten leased car parking spaces.

“The Radisson Hotel is ideally located in Sydney’s midtown precinct with access to a broad base of demand and close to public transport, the International Convention Centre, entertainment and shopping amenity and the prime Darling Park office precincts; as such, the hotel holds strong appeal for corporate and leisure focused guests,” said Gus Moors, Head of Hotels at Colliers International.

“The hotel is currently operated under the benefit of a franchise agreement with Radisson Hotels Asia Pacific, which expires on 31 August 2022; however early termination is possible, permitting an incoming purchaser to buy with the franchise agreement or introduce their own preferred operating structure – a very rare offering in Sydney’s tightly held hotel investment market.”

Karen Wales, Director, Hotels at Colliers International, said “Since opening in 1998, the Radisson Hotel has built a strong track record of delivering healthy returns and is well positioned to take advantage of the strong trading upturn which is projected in Sydney’s hotel market over the medium term.

“This sale offers investors the opportunity to secure a strategic position in the tightly held Sydney Central Business District that will benefit from its close proximity to tourism demand generating
infrastructure.”

“While the global hotel sector is under pressure currently, well located properties in key gateway cities will always outperform both from a trading and investment perspective. The Radisson offers investors the opportunity to gain a foothold and capitalise on the medium term growth in the sector.  For offshore buyers, the historically low currency also creates another reason to invest in the Australian property markets” said Mr Moors

The Radisson Hotel is being offered for sale by Expression of Interest closing Monday 18th May at 12pm (AEDT).

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Gus Moors

Head of Hotels | Australia

Sydney CBD

Having joined Colliers in early 2014, I have subsequently sold over $180 million of hotel assets across Victoria and NSW, including the largest hotel transaction in Victoria since 2008, being Bell City Preston for $143 million.

Prior to joining Colliers, I was Director of Asset Management for Tourism Asset Holdings Limited (TAHL), Australia's largest hotel owner and responsible for selling down this portfolio totalling over $1.5 billion.

Before TAHL, I was with Jones Lang LaSalle Hotels for 7 years, as Head of Asset Management and Chief Operating Officer for the Hotels group across Asia Pacific.

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Karen Wales

National Director, Transaction Services | Hotels Asia Pacific

Sydney CBD

Karen has over twenty years of experience in the hotel industry and holds a Masters of Business Administration (MBA) from the Australian Graduate School of Management. She brings with her a specialised knowledge of the Asia Pacific hotel investment market and an ability to drive fresh capital into Australia’s hotel markets. She has developed an exceptional network over the past two years across Asia and the Middle East and within government, in her capacity as Senior Investment Specialist Tourism Infrastructure at Austrade and her knowledge of new entrants into the growing Australian tourism sector is second to none.      

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