Swissotel Sydney - SOLD

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Sold for 90,000,000 AUD Date of Sale: February 2010
Rooms: 361
Price Per Room: 249,307 AUD
Property Id : 29270

Swissôtel Sydney is a first-class, international standard Sydney CBD Hotel offering investors a diversity of income streams across guest accommodation, food, beverage, conference and recreational facilities.

Offering relaxed and luxurious surroundings right at the doorstep of some of the best shopping, entertainment and culinary landmarks Sydney has to offer, the Hotel boasts a vibrant city-centre location above the Myer Department Store at 68 Market Street. The Sydney Harbour Bridge, the historic Rocks precinct, the Sydney Opera House, the beautiful Botanic Gardens and major commercial buildings are all within walking distance of the Hotel.

Opening in December 1999 as the Merchant Court Hotel, the Property was re-branded as the Swissôtel Sydney in late 2003 following a minor refurbishment program.

The Hotel has a contemporary design across levels 8 through to 25 and offers 359 guestrooms with most enjoying breathtaking skyline views of Sydney. A Mediterranean-inspired restaurant, J.P. Bastiani (JPB), is located on level 8 and is complemented by Crossroads, a bar and lounge which serves breakfast and light lunches in plush surroundings. The Conference Centre offers a variety of flexible meeting rooms including the well-known Blaxland Ballroom, which caters for up to 450 people. Swissôtel Sydney also features the Amrita Spa (leased to external party),a fitness centre, an outdoor heated swimming pool, jacuzzi, steam and sauna rooms, as well as security parking lots in the basement and a leased coffee shop on the ground floor.

With strong existing cash flow and excellent income growth potential, an incoming investor has a rare opportunity to acquire a well-managed investment within the heart of one of the world’s most exciting cities. The Property is held as a strata-freehold interest and is offered for sale with the benefit of Swissôtel Hotels and Resorts management; a fast-expanding global brand and part of Raffles International and Fairmont Hotels and Resorts Group.

Mark Durran

Managing Director, Investment Sales Australasia
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