Share

JLL Hotels & Hospitality Group have been exclusively retained to offer for sale Bell City. This is a rare opportunity to secure a substantial mixed use asset in the tightly held Melbourne market.

Property features and investment highlights include:

  • Complex comprises 844 hotel rooms and suites, leased office building, food & beverage, retail outlets, large scale convention and meeting facilities, 646 bay car park, and residential development site.
  • Total site area of 24,214sqm.
  • Hotel components comprise a Mantra Hotel, a BreakFree Hotel, and ‘Le Student 8’ student accommodation as well as extended stay residence.
  • Existing planning permit for 377 apartments, 520 car parking bays and associated commercial space or the opportunity to develop as vertical retirement/aged care, additional student accommodation or ‘build to rent’ (STCA).
  • Office component consists of a 6-level office building fully leased with net lettable area of 5,140sqm.
  • Currently operated by Mantra Group under a management contract however vacant possession is available on sale.
  • Located in the heart of Melbourne’s vibrant inner north and within walking distance to tram stop and train stations, 20-minute drive to the airport, and close to universities and business parks.

This opportunity represents an attractive yield profile with a range of alternate use, value add and development opportunities.

Expressions of Interest close 3pm (AEST) Thursday 12 October 2017. 

Share

Mark Durran

Managing Director, Hotel Investment Sales, JLL Australia

Never miss an update from The Investor.

Subscribe Now!