Alto Hotel on Bourke - SOLD

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Sold for 19,200,000 AUD Date of Sale: September 2015
Rooms: 50
Price Per Room: 384,000 AUD
Property Id : 30438

CBRE Hotels and City Sales are pleased to offer you the chance to own an exceptional freehold hotel investment at 636 Bourke Street, Melbourne; also known as the Alto Hotel on Bourke. This boutique hotel is a rare opportunity, consisting of 50 rooms and an eco-friendly design with the following key features:

– A premium 4 Star modern hotel boasting an average occupancy rate of approximately 94% per annum and average room rates well above Melbourne standards.

– Proven and strategic location surrounded by Southern Cross Station, Crown Casino, SkyBus and Melbourne’s best corporate headquarters.

– Secure net income of $813,000 per annum (as of January 2016) with fixed 3.5% annual increases and options until 2042.

– Australia’s first and only 6 Star NABERS Energy Rated Hotel being recognised as a true market leader.

– Multi-award winning hotel business including recognition in the Victorian Tourism Awards Hall of Fame.

Scott Callow

Senior Director, Capital Markets
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