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.
“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, 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
“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).