Primus Hotel Sydney - SOLD

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Sold for 131,500,000 AUD Date of Sale: February 2021
Rooms: 172
Price Per Room: 764,535 AUD
Property Id : 28934
Land Size: 2,229 m2

JLL Hotels & Hospitality Group has been exclusively appointed to offer for sale the Primus Hotel Sydney – located in the heart of Sydney’s Central Business District (CBD).

The Primus Hotel Sydney is the first major 5-star Sydney CBD hotel to be offered with vacant possession since 2012. It features 172 guest rooms & suites together with a lobby bar, restaurant, rooftop bar and approximately 480sqm of conference and meeting space. Further hotel dedicated amenities include a rooftop swimming pool, gymnasium and 12 carparking spaces.

The Hotel is a stunning revival of inter-war period architecture and was reimagined by award-winning design firm Woods Bagot, who ensured original features such as the grand eight metre high scagliola columns and panelled sky light in the lobby were restored to their 1930s Art Deco glory.

This freehold property is prominently located on Pitt Street within the midtown precinct of the Sydney CBD, close to a large number of major demand drivers including the vibrant Chinatown, funky Darlinghurst and Darling Harbour convention and entertainment precincts. Near major corporate occupiers including S&P/ASX 200 companies such as ANZ, CBA, Telstra & Scentre Group, along with numerous financial and legal services organisations such as QBE Insurance, Citigroup and Colin Biggers & Paisley Lawyers. Nearby public transport facilities include Town Hall Station and Museum Station. New transport infrastructure including the recently opened George Street Light Rail and the new Pitt Street Metro Station, currently under construction across the road from the Primus Hotel Sydney is due for completion in 2024, which will ensure quick and easy access throughout the CBD for hotel guests.

The Sydney CBD accommodation market remains one of Asia Pacific’s best long-term tourism destinations and has historically outperformed all other Australian capital cities. Existing 5-star hotels in Sydney CBD remain tightly held with long-term management agreements and thus opportunities for hotel brands to enter this highly sought-after, globally recognised market remain very rare.

The Primus Hotel Sydney is being offered for sale via Expressions of Interest, providing an unrivalled opportunity to acquire a relatively new flagship 5-star hotel asset in Australia’s most coveted hotel investment destination. For further information, please contact the exclusive agents below.

Other Features
Car park
Conference and meeting spaces
Gymnasium
Restaurant

Mark Durran

Managing Director, Investment Sales Australasia

Nick Roche

Vice President, Investment Sales - Australasia
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