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97-103 Elizabeth Street,
Melbourne, VIC 3000
Hotel, Motel & Leisure
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Sale - Expression of Interest closing Thu 14 Nov
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Cushman & Wakefield - Melbourne
Level 9, 385 Bourke StreetMELBOURNE, VIC 3000
97-103 Elizabeth Street
Melbourne, VIC 3000
Map of 97-103 Elizabeth Street
Train stations within 5 km of 97-103 Elizabeth Street, Melbourne, VIC 3000 Distance Flinders Street Railway Station 393 m Melbourne Central Station 642 m Flagstaff Station 789 m Parliament Station 927 m Southern Cross Station 988 m POWERED BY HERE ©Tram stops within 5 km of 97-103 Elizabeth Street, Melbourne, VIC 3000 Distance 2-Collins St/Elizabeth St (Melbourne City) 27 m 5-Elizabeth St/Collins St (Melbourne City) 46 m 4-Elizabeth St/Flinders St (Melbourne City) 165 m Elizabeth Stbourke St 212 m 6-Melbourne Town Hall/Collins St (Melbourne City) 234 m POWERED BY HERE ©Bus stops within 5 km of 97-103 Elizabeth Street, Melbourne, VIC 3000 Distance Collins St/Queen St (Melbourne City) 186 m Rio Tinto 197 m Little Collins Street 237 m Flinders LaneQueen St 265 m Bourke St/Queen St (Melbourne City) 278 m POWERED BY HERE ©
POWERED BY HERE ©
Rare CBD Hotel Acquisition Opportunity – Within Melbourne’s Best-Known Address
- 146 Guest Rooms
- Value-Add or Refurb Opportunity
- Acquire Below Replacement Value
Cushman & Wakefield and CBRE are pleased to present for sale 97-103 Elizabeth Street, Melbourne – IBIS Budget Melbourne CBD.
The IBIS Budget Melbourne CBD represents an exceptional opportunity to - enter the highly sought after Melbourne hotel market with a -robust performing CBD 3.0 Star Hotel in a strategic inner city location. The 146-room hotel with its associated facilities provides a potential investor with short-term secure income whilst also providing a possibility for significant refurbishment and value-add future opportunity.
- Prime Melbourne CBD location along one of Australia’s best-known addresses, situated between Collins and Bourke Street.
- Operated by Accor Hotels, Australia’s largest hotel management company featuring 5,584 locations in over 110 countries.
- 146 guest room hotels with 3.0-star rating, 24-hour reception, food, and beverage outlets.
- Tightly held Melbourne hotel market experiencing strong rebound since COVID lockdowns with majority of new stock around 4.0-5.0-star market strongly lifting the demand for budget accommodation within the Melbourne CBD.
- Recent capex spent over the past few years which includes significant refurbishments including the replacement of lifts.
- Favourable management agreement for incoming purchaser with opportunity to refurbish and value-add upon completion of agreement whilst benefitting from short-term secure income.
- Prime student accommodation or co-living value-add opportunity in an economic landscape whereby the demand for housing is currently not meeting supply.
- Significant capital growth opportunity to create a Melbourne hospitality icon through refurbishment and refreshment program and increase rate per night charged.
*Approx.
For Sale by International Expressions of Interest Closing Thursday 14 November 2024 at 12pm (AEDT).
For further information or to arrange an inspection of the property please contact the Cushman & Wakefield or CBRE teams as conjunctional selling agents:
Cushman & Wakefield
Daniel Wolman | +61 412 957 8...
Oliver Hay | +61 419 528 5...
Leon Ma 马海翔 | +61 417 070 725
CBRE
Wayne Bunz | 0419 698 6...
Scott Callow | 0418 153 6...
The IBIS Budget Melbourne CBD represents an exceptional opportunity to - enter the highly sought after Melbourne hotel market with a -robust performing CBD 3.0 Star Hotel in a strategic inner city location. The 146-room hotel with its associated facilities provides a potential investor with short-term secure income whilst also providing a possibility for significant refurbishment and value-add future opportunity.
- Prime Melbourne CBD location along one of Australia’s best-known addresses, situated between Collins and Bourke Street.
- Operated by Accor Hotels, Australia’s largest hotel management company featuring 5,584 locations in over 110 countries.
- 146 guest room hotels with 3.0-star rating, 24-hour reception, food, and beverage outlets.
- Tightly held Melbourne hotel market experiencing strong rebound since COVID lockdowns with majority of new stock around 4.0-5.0-star market strongly lifting the demand for budget accommodation within the Melbourne CBD.
- Recent capex spent over the past few years which includes significant refurbishments including the replacement of lifts.
- Favourable management agreement for incoming purchaser with opportunity to refurbish and value-add upon completion of agreement whilst benefitting from short-term secure income.
- Prime student accommodation or co-living value-add opportunity in an economic landscape whereby the demand for housing is currently not meeting supply.
- Significant capital growth opportunity to create a Melbourne hospitality icon through refurbishment and refreshment program and increase rate per night charged.
*Approx.
For Sale by International Expressions of Interest Closing Thursday 14 November 2024 at 12pm (AEDT).
For further information or to arrange an inspection of the property please contact the Cushman & Wakefield or CBRE teams as conjunctional selling agents:
Cushman & Wakefield
Daniel Wolman | +61 412 957 8...
Oliver Hay | +61 419 528 5...
Leon Ma 马海翔 | +61 417 070 725
CBRE
Wayne Bunz | 0419 698 6...
Scott Callow | 0418 153 6...
Property ID: 504704192Last Updated: 3 Oct 2024
Cushman & Wakefield - MelbourneLevel 9, 385 Bourke Street
MELBOURNE, VIC 3000
MELBOURNE, VIC 3000
CBRE - MelbourneLevel 34, 8 Exhibition Street
MELBOURNE, VIC 3000
MELBOURNE, VIC 3000
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