Located in picturesque Dubbo and vibrant Coffs Harbour, these well-established regional hotels are available to purchase either in-one-line or on an individual basis.
JLL Hotels & Hospitality’s Andrew Langsford, Nick Roche & Taylor O’Brien, have been exclusively retained to market the properties by way of an Expressions of Interest campaign.
The ibis Budget Coffs Harbour features 70 guest rooms, reception, restaurant, outdoor swimming pool and onsite parking that is strategically located within the Coffs Harbour CBD, within close proximity to the Pacific Highway and Harbour Drive.
There exists an opportunity for an incoming purchaser to redevelop the 3,205sqm freehold site with a current Development Application in place for a Mixed-Use Development comprising 98 Residential Apartments, 137 car parking spaces with one (1) Commercial unit.
Coffs Harbour is a large regional seaside city and popular holiday destination located in the heart of the New South Wales’ Mid North Coast between Sydney and Brisbane and is currently benefitting from a number of major infrastructure investments such as the Coffs Jetty Revitalisation Refined Masterplan, the 43-hectare subdivision of Coffs Harbour Airport, designed to attract a mixture of business and aviation-related enterprises to the area, and the federally funded expansion of the health facilities at Southern Cross University.
The ibis Budget Dubbo comprises 65 guest rooms, reception, restaurant, swimming pool and onsite parking. Located in the heart of the regional town of Dubbo at the junction of Newell Highway and Victoria Street, the property is ideally positioned to accommodate both business and leisure demand within the town centre.
Dubbo remains a regional hub and is home to extensive medical, health, welfare and educational facilities, while state and federal government departments have established regional offices in the city. The Taronga Western Plains Zoo, Western Plains Cultural Centre and the Dubbo Base Hospital are all within minutes of the Hotel.
Major infrastructure investment in the area includes the Dubbo Hospital redevelopment, which is in the final stages of completion and the Inland rail that will connect Melbourne to Brisbane via regional Australia, with Dubbo being a major beneficiary.
Nick Roche, Vice President said “These hotels are well positioned to benefit from significant ongoing investment in major infrastructure projects within their respective markets.”
“Strategically positioned in Dubbo and Coffs Harbour, these well-regarded budget hotels have established themselves as magnets for a wide range of guests, from eager tourists to busy corporate travellers, with strong historic trading performance”, Taylor O’Brien, Associate at JLL Hotels & Hospitality Group further elaborated.
Both properties are currently managed by Accor however Vacant Possession is available upon sale.
In line with a number of hotel and motel sales across regional NSW in recent years, strong interest is expected from owner-operators, high net worth individuals and developers. In 2022, 54 hotel transactions occurred nationally which is a significant increase on the historical average of 39 per annum. This was almost entirely due to an increased focus on metropolitan and regional assets in the mid-markets space as investors look to expand their portfolios and further drive strategies. Assets such as ibis Budget Coffs Harbour and Dubbo both typify opportunities that have been most sought in this period of heightened activity.
The properties are owned by Iris Capital who acquired it as part of the 17-asset AccorInvest Portfolio in 2021. Chief Executive Officer, Sam Arnaout, said “Our group has evolved considerably in the past couple of years headlined by major development projects in Newcastle and the Gold Coast. It made sense to capitalise on investor interest and re-direct the proceeds into the core focus and future of our business.”
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Ibis Melbourne Hotel & Apartments for sale by JLL