Mercure & Ibis Styles Grosvener Hotel Adelaide - SOLD

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Sold for 43,000,000 AUD Date of Sale: December 2017
Rooms: 245
Price Per Room: 175,510 AUD
Property Id : 29064

JLL has been exclusively retained to offer for sale the Mercure & Ibis Styles Grosvenor Hotel Adelaide (the “Hotel”, “Property”, “Asset” or “Site”).

Centrally located in one of the best positions in the Adelaide CBD on bustling North Terrace within close proximity to the majority of the city’s attractions and accommodation demand generators, the Hotel has a long and established trading history. The Hotel is managed by AccorHotels however is also available with vacant possession of management.

The City of Adelaide is rapidly transforming with much of the focus along North Terrace due to in excess of $3.8 billion investment including the new Royal Adelaide Hospital, Adelaide Oval, Bioscience Precinct, Riverbank Precinct, expansion of the Convention Centre, Festival Centre Carpark and Plaza as well as the expansion of both University of Adelaide and University of South Australia’s campuses.

The Property occupies a strategic freehold site of over 3,700sqm, offering an array of potential re-development options with significant exposure to the renowned North Terrace and Hindley Street.

This iconic Hotel features 245 guest rooms, including 181 Standard, Privilege, Deluxe and Suite rooms operated under the Mercure brand and 64 refurbished Economy rooms operated under the Ibis Styles brand. Other facilities include restaurant, bar, conference and function facilities, exercise room and secure basement car parking.

Adelaide has become a rapidly growing tourism destination and is expected to go from strength to strength. With the benefit of vacant possession, the sale of the Mercure & Ibis Styles Grosvenor Hotel represents a truly rare opportunity to acquire a major hotel asset with strong cash flow and the potential of future major redevelopment (STCA).

The sale of the Mercure & Ibis Styles Grosvenor Hotel Adelaide, is available for purchase via an Expression of Interest campaign closing Wednesday 27 September.

Mark Durran

Managing Director, Investment Sales Australasia
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