Brisbane’s 4 star Hotel Urban is being offered for sale through an Expressions of Interest campaign managed by Colliers International’s Neil Scanlan and Leo Carne.
The architecturally designed, 11-storey boutique hotel is expected to be highly sought after with strong interest already from domestic and international hotel investors.
“Brisbane is currently undergoing major city shaping infrastructure projects that will propel Brisbane’s international recognition as a new world city,”
After several years of new hotel development applying pressure to the Brisbane hotel investment market, Brisbane has led the way with recent significant room demand increases, contributing to an increase in overall hotel RevPAR performance.
“With limited new supply still to open, the market will continue to experience an increase in trading performance,” said Neil Scanlan, National Director, Hotels at Colliers International.
The hotel offers 179 rooms and suites, restaurant, bar, swimming pool, gymnasium, and large conference and event facilities. It is situated in an elevated position with expansive views over the Roma Street Parklands, CBD, and Brisbane river.
The hotel is positioned directly adjacent to the proposed $2 billion Brisbane Live precinct which will be built across Roma Street Station and Brisbane Transit Centre.
In the year to December 2017 Brisbane’s occupancy rate reached 73.7%, reflecting 2.6% growth on the same period last year. Positive RevPAR growth was also experienced as the market has absorbed recent addition to supply.
The hotel is currently under management by Urban Hotels and is available for sale with vacant possession. This flexibility allows for the repositioning and rebranding of the hotel or for the incoming purchaser to continue the management agreement with Urban Hotels.