FOR SALE: ibis Budget Dubbo
JLL Hotels & Hospitality’s Andrew Langsford, Nick Roche & Taylor O’Brien, have been exclusively retained to market ibis Budget Dubbo.
The ibis Budget Dubbo comprises 65 guest rooms, reception, restaurant, swimming pool and onsite parking. Located in the heart of the regional town of Dubbo at the junction of Newell Highway and Victoria Street, the property is ideally positioned to accommodate both business and leisure demand within the town centre.
Dubbo remains a regional hub and is home to extensive medical, health, welfare and educational facilities, while state and federal government departments have established regional offices in the city. The Taronga Western Plains Zoo, Western Plains Cultural Centre and the Dubbo Base Hospital are all within minutes of the Hotel.
Major infrastructure investment in the area includes the Dubbo Hospital redevelopment, which is in the final stages of completion and the Inland rail that will connect Melbourne to Brisbane via regional Australia, with Dubbo being a major beneficiary.
The ibis Budget Coffs Harbour is also being offered for sale. Both of these well-established regional hotels are available to purchase either in-one-line or on an individual basis.
Nick Roche, Vice President said “These hotels are well positioned to benefit from significant ongoing investment in major infrastructure projects within their respective markets.”
“Strategically positioned in Dubbo and Coffs Harbour, these well-regarded budget hotels have established themselves as magnets for a wide range of guests, from eager tourists to busy corporate travellers, with strong historic trading performance”, Taylor O’Brien, Associate at JLL Hotels & Hospitality Group further elaborated.
The properties are owned by Iris Capital who acquired it as part of the 17-asset AccorInvest Portfolio in 2021. Chief Executive Officer, Sam Arnaout, said “Our group has evolved considerably in the past couple of years headlined by major development projects in Newcastle and the Gold Coast. It made sense to capitalise on investor interest and re-direct the proceeds into the core focus and future of our business.”
Both properties are currently managed by Accor however Vacant Possession is available upon sale.