This article is from the Australian Property Journal archive
Listed hotel owner and operator, Sundowner Group has put several motor inns for sale with Jones Lang LaSalle Hotels.
Sundowner has offered five regional motel freeholds and businesses that would suit owner operators, as well as two regional long-term investment freehold motels for sale.
These properties are located at Bathurst, Orange, Maitland, Swan Hill, Moree, Traralgon and Gladstone.
JLL Hotel’s senior vice president Mark Durran said investors’ appetites for tourism accommodation assets outside major CBD areas is proving to be difficult to satisfy.
“Opportunities to acquire quality freehold and leasehold motels in strong regional centres continue to be rare. We anticipate strong interest from both entry-level and experienced moteliers for these assets.” he added.
JLL Hotels also recently contracted the sale of a large Tamworth motor inn 10 days before the campaign was due to close.
“Interest for this particular property was very strong not only from the traditional owner operators, but also from larger hotel chains such as Accor, Travelodge and Rydges,” JLL Hotels’ Wayne Bunz said
The Tamworth property showed an initial yield of circa 13%.
By Kathryn O’Meara
