JLL Hotels & Hospitality Group has been exclusively to offer for sale, on a confidential off-market basis, the Sebel Canberra (the “Hotel”, “Property” or “Asset”) located at 197 London Circuit, Canberra ACT. The Hotel features 144 brand new apartment style hotel rooms over eleven floors. The 126 studio rooms feature kitchenette facilities and the 18 one-bedroom suites include full kitchen facilities. The ground floor space is home to retailers, restaurants and bars, all leased to external operators.
The property commands a prime position in the heart of Canberra’s CBD. Well located within the Civic Square precinct, the hotel is surrounded by a mix of office buildings, government departments, restaurants and entertainment venues. Civic Square is home to ACT Legislative Assembly, Canberra Museum and Gallery, Civic Library and Canberra Theatre, along with many local cultural organisations.
The city of Canberra has a consistent history as one of Australia’s strongest and most secure economies with robust employment, and forecast population and GDP growth. With the recent addition of short-haul international flights to Canberra International Airport, the city welcomed a record 243,000 international visitors and 2.75 million interstate overnight visitors, a 16.9% and 10.7% increase over last year, respectively. According to the 2018/19 Budget the territory is on track to reach their goal of $2.5 billion in overnight visitor expenditure per annum by 2020.
The Canberra Hotel Market is on the upswing. Over the past three years the Canberra hotel market has seen growth in both occupancy and ADR, and December 2018 STR reports a RevPAR increase of over 4% over the same previous period. Taking into account the supply pipeline for the city and increased international and domestic demand, Canberra is expected to see continued growth in trading performance.
This opportunity is being offered for sale on a confidential off-market basis. For further information, please contact JLL Hotels & Hospitality Group.