Opportunities & Expansion :
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The hotel consists of an 11 level building, incorporating 68 hotel suites, cafe, reception and function rooms. At the rear of the hotel is a multi story, 148 bay car parking facility.The property and business operations are to be sold as a package offering a raft of opportunities for redevelopment or ongoing operation.The hotel has a 31/2 star rating and enjoys a 50% to 60% occupancy rate.
The function room facilities are sublet, on one floor and operate as, catering for weddings, corporate functions and seminars.
The carpark facility, which is operated as a separate entity, generates total revenue of A$755,700 per annum.
This Blue Chip property is in a prime location offering nrestricted panoramic river views from every level.
The Convention Centre is a mere 5 minutes walk from the site, and would allow the hotel to offer an alternative accommodation and parking facility for Convention Centre patrons.
Major redevelopment of the foreshore, rail and bus stations and an underground walkway are currently proposed by the City of Perth.
2 Possible Options for the site:
- Create luxury apartment and penthouses suites
- Upgrade accommodations to 4 star
- Increase car parking facilities by constructing additional levels
- Build additional accommodation above car park facilities
- Market bulk package accommodation for tour and business groups
It is a rare opportunity to acquire a prime inner city property with uninterrupted river and foreshore views and within walking distance to Convention Centre and city prescient.
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