Sheraton Melbourne Hotel

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Property Id : 29068
Price: 135,000,000 AUD
Rooms: 174
Sold for 135,000,000 AUD Rooms: 174
Price Per Room: 775,862 AUD

One of Australia’s most modern five-star hotels, located at the prestigious Paris end of Melbourne’s exclusive Little Collins Street.

JLL Hotels & Hospitality Group as Lead Agent, in conjunction with CBRE as referral agent, have the pleasure of offering for sale the Sheraton Melbourne Hotel (the “Hotel”, “Property” or “Asset”) on behalf of the Golden Age Group.

One of Australia’s most modern five-star hotels, the Sheraton Melbourne is an icon of Melbourne’s Paris End precinct and superbly situated to attract both the corporate and leisure markets. Its market reputation, as one of Melbourne’s leading hotels, is a result of its guest offering, excellent position and a record of trading growth and profitability since opening in early 2014.

One of Australia’s most modern hotels, located at the prestigious Paris End of Melbourne’s exclusive Little Collins Street, the Sheraton Melbourne allows guests to immerse themselves in the city’s famed laneway culture, vibrant bars, award-winning restaurants, spectacular theatre shows and excellent shopping, all of which are only minutes away on Little Collins Street, Spring Street and within the Melbourne CBD.

The hotel is newly purpose built with close involvement by the Sheraton team in the design and delivery to ensure the highest standard possible. The hotel offers 174 contemporary rooms with sweeping views across the CBD and immediate access to all that Melbourne has to offer. Key amenities within the hotel include a 24 hour gym, day spa, pool and steam room.

Also within the hotel is the Little Collins Street Kitchen – a full service restaurant, the Terrace bar – an attractive and relaxing rooftop bar, Crux & Co. – an award winning cafe and patisserie, East – a modern Chinese restaurant, and the Lobby Lounge. There are also extensive conference facilities with the Ballroom and multiple meeting spaces to cater to events of all kinds.

The Sheraton Melbourne is located in the heart of Melbourne’s premium office precinct and adjacent to the government precinct, making it the hotel of choice for numerous corporate travellers as well as senior government officials.

Also within close walking distance or quick tram ride is the world renowned Melbourne Sports Precinct which includes the MCG, Rod Laver Arena (home of the Australian Open), AAMI Park and Vodafone Arena.

Not only does the hotel attract a strong corporate following, it has also built a reputation as a premium leisure hotel allowing guests to simply relax in one of the sleek rooms or suites, indulge in Parisian high tea at Little Collins Street Kitchen, or watch the world go by with a glass of champagne or a cocktail at the Terrace Bar.

The Melbourne hotel investment market is one of the most tightly held in the Asia Pacific region. Melbourne’s accommodation market has continued to trade at strong levels, with robust RevPAR growth expected to continue. Further growth in the city’s already deep calendar of events, and completion of future tourism infrastructure projects, will continue to drive increased demand for accommodation nights. An incoming owner will be well-placed to enjoy the Hotel’s strong existing cash flow with excellent fundamentals for growth over the coming years with the Hotel yet to reach stabilisation.

Offered for sale with the benefit of Marriott management under the Sheraton brand – one of the most recognised hotel brands in the industry – Sheraton Melbourne represents a truly rare opportunity to enter the Melbourne five-star hotel market.

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Mark Durran

Managing Director, Investment Sales Australasia
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