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.