Dransfield Hotels & Resorts (“Dransfield”) and Jones Lang LaSalle (“JLL”) have been retained by the Owner, Lennop Pty Limited (a subsidiary of SilverNeedle Hospitality) (“Owner”), as exclusive agents and advisors for the sale of the NEXT Hotel® & Retail located at 72 Queen Street, Brisbane.
This completely refurbished landmark asset is located directly on Queen Street Mall Brisbane and includes a 304 room 4.5 star hotel and large box single retail tenant.
This offering represents a unique opportunity to secure a fully leased mixed use building in one of Brisbane’s key city locations. The building represents the first international launch of the NEXT Hotel® brand and the Australian debut of global fashion retailer FOREVER 21. These quality tenants are secured by a strong long term rental structure that provides high income certainty with further upside.
The investment is located in the heart of one of Australia’s busiest pedestrian malls with over 26 million visitors annually. It is close to key CBD demand drivers including the recently refurbished Brisbane Convention and Exhibition Centre, and several of the city’s upcoming major infrastructure projects.
Initial Expressions of Interest are due by 21 May 2014. The information contained within this document and the initial dataroom are sufficient to perform your preliminary assessment. Short-listed parties will then be invited to proceed to detailed due diligence and submit their final offers.