International search for hotel buyer in Sydneys growth hub commences
International search for hotel buyer in Sydney’s growth hub commences
| 9 August 2018
CBRE has been appointed to commence an international search for a buyer of the proposed Atura Edmondson Park Hotel in Sydney’s rapidly growing south-west.
The proposed hotel will be the centrepiece of Frasers Property Australia’s Ed.Square Town Centre being developed in Western Sydney - approximately eight kilometres from the Liverpool CBD, 20 kilometres from Badgerys Creek International Airport and 42 kilometres south-west of Sydney’s CBD.
Anticipated for completion in the third quarter of 2020, the four-star hotel is proposed to comprise 167 rooms over 10 levels, four conference rooms, swimming pool, gym and a 110-seat food and beverage outlet.
CBRE’s Rob Cross and Wayne Bunz have been exclusively appointed to market the hotel for sale via an International Expressions of Interest campaign.
Mr Cross said the property is expected to attract strong buyer interest from both national and offshore groups.
“The proposed hotel benefits from an enviable location, given the strength of the south-west corridor and the substantial infrastructure facilities underway or proposed for the region. There will be positive flow on effect from major projects including the second international airport at Badgerys Creek, the multimillion-dollar upgrades to Campbelltown and Liverpool hospitals and the $2 billion south-west rail link extension,” Mr Cross said.
“The Ed.Square Town Centre itself represents a 145,000sqm development incorporating approximately 1,800 homes, over 120 retail outlets and a proposed entertainment/cinema precinct – all of which sit alongside the new Edmondson Park Railway Station. The growth potential of Greater Western Sydney is phenomenal, with the hotel perfectly positioned to benefit from the area’s success.”
Mr Bunz added: “Ed.Square will not only be a new focal point for Sydney’s rapidly growing south-west, but is destined to become a destination for shopping, dining, live music, entertainment and numerous other lifestyle experiences that make it an ideal destination for a quality hotel offering.”
The hotel is currently proposed to be branded as Atura, in a similar vein and commensurate quality to the award-winning Atura Hotel at Blacktown. There is an opportunity however for investors or owner operators to consider an alternate brand / operator, if preferred.
Mr Bunz said the Sydney hotel sector was highly sought-after from investors globally, typified by limited opportunities.
“The Atura Edmondson Park will represent a rare opportunity for the hotel investment community to secure a foothold in a location where the hotel is a major focal point of an emerging urban hub,” Mr Bunz added.
Round one EOI bids close Tuesday 4th September 2018.
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.