Capital Gain
DWS, the German-backed Deutsche Wealth and Asset Management, is selling its prime North Sydney office tower with a value of about $100 million.
The 90 Arthur Street site is a 14-level office building comprising 9304 square metres on a substantial 1188 -square-metre freehold site.
DWS bought it from the Blackstone-owned 151 Property Group for about $75 million in 2016 and undertook upgrades for the property. It is leased to a range of tenants including William Grant & Sons, owner of globally recognised brands Glenfiddich, The Balvenie and Hendrick’s Gin alongside Epson, Humanforce Holdings and Ruthra.
The property’s prominent landholding, panoramic harbour and CBD views and proximity to major infrastructure projects including the Victoria Cross precinct, Miller Street pedestrianisation and broader public domain upgrades are expected to further support long-term investor demand.
The campaign is being managed by Colliers agents Alex McColl, Tyler Talbot, Catherine Scott and Joseph Lin.
Sebel Parramatta
The bustling city of Parramatta is set to welcome a new hotel in August when Accor launches its new Sebel Sydney Parramatta, marking its further expansion into the west.
Located on Victoria Road, the 51 studio, one-bedroom and two-bedroom suites, will offer a “residential-style” experience for corporate and leisure travellers.
It opens as Parramatta is coming into its own as a destination for large-scale businesses and tourists with the opening of the new airport at Badgerys Creek, the Powerhouse museum and the redevelopment of Riverside Theatres.
Developed by Nirskam Group and to be managed by Accor, the opening will take the hotel giant’s western Sydney network to 22 hotels, including its Olympic Park assets.
Adrian Williams, chief operating officer of Accor in the Pacific region said Parramatta was evolving rapidly as a centre for business, culture and visitation.
“This hotel is well placed to meet growing demand for high-quality accommodation that offers the comforts of home,” he said.
Luxury resort in Hunter Valley
Hotel owner and finance veteran Dominic Lambrinos is teaming up with NSW Hunter Valley wine barons including Brian McGuigan, to develop a $130 million luxury resort and medi-spa.
Under his HVL Hotels banner, Lambrinos is developing the Laval Hunter Valley, a luxury resort and tourism destination on the 67-hectare historic Lindeman’s Estate in Pokolbin.
Lambrinos was the co-founder of Chifley Financial, a non-bank lender, but has always had a passion for the hotel sector. His HVL Hotels owns properties in Poland and Oman.
He bought the site from McGuigan Wines, which was previously listed on the ASX and chaired by the late David Clarke who was the former chairman of Macquarie Bank, among other companies. Brian McGuigan will have a small investment in the project and act as an adviser.
Laval marks the first new-build luxury resort development of this scale in the Hunter Valley in two decades and will have 65 pavilion-style luxury villas with a signature restaurant run by Justin North, and art installations by Gillie & Marc.
Private lenders Pallas Capital will provide the financing.
Franchise investors
Franchise investors are steaming back into the hotel sector at a time when demand is high for assets that are well located but need some love. Accor, the country’s largest hotel operator said it had surpassed 150 franchise hotels across Australia and New Zealand.
Over the past decade, Accor’s Pacific franchise network has experienced significant expansion, particularly across regional and suburban markets, supported by growing owner appetite for globally recognised brands, strong distribution capability, loyalty-driven demand and operational efficiencies delivered through scale.
Accor’s chief franchise officer for its premium, midscale, and economy division, Leire Leoz, said the Pacific region had emerged as a strong growth market for franchising.
It comes as the overall hotel industry remains resilient despite the tough economic conditions, cost pressures and global uncertainty.
At the Accommodation Australia NSW Hotel Market and Economic Outlook Update at the Fullerton Hotel in Sydney this week, hoteliers said that, despite the volatile occupancy in the short term, the overall mood from the expert speakers was cautious optimism and that a strong belief demand inevitably bounces back.
Accommodation Australia NSW general manager Stacey McBride said NSW, and Sydney in particular, were continuing to attract visitors and investment.
carolynannecummins@gmail.com
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