Singapore investment and asset management company High Street Holdings (HSH) has added another Australian hotel to its fast-growing global portfolio with the purchase of Peppers Kings Square in Perth for circa $26 million.
CBRE Hotels negotiated the off-market sale, which represents the third Australian hotel acquisition in 12 months for HSH following Rydges North Sydney and the Kennigo Hotel Brisbane.
The property will also be rebranded as Rydges Kings Square.
The CBD hotel is located directly opposite Perth Arena at 621 Wellington Street and is positioned to capture both corporate and leisure demand. Opened in November 2016, the hotel consists of 120 large and well-appointed guest rooms, a ground level restaurant, meeting facilities and gym.