This article is from the Australian Property Journal archive
LOCALLY-based Asian investors have acquired Toowong’s 51-room Jephson Hotel for $15.8 million.
The sale inner-city hotel equates to $310,000 per room and was negotiated by Colliers International’s Neil Scanlan via expressions of interest.
Scanlan said thew sale showed there are still astute investors looking to capture the potential future growth of the Brisbane hotel market
“The next several years will remain strong for the Brisbane hotel market spurred on by the significant infrastructure projects planned for the City such as $5.4 billion Cross River Rail and $3 billion Queen’s Wharf development,” he said.
The Jephson Hotel features nine different accommodation options, comprising of one and two-bedroom apartments and three-bedroom penthouse, all with furnished balconies.
It includes the Covet Restaurant and Bar on the ground floor, which includes bar lounge, café, conference and boardroom facilities, rooftop function space and free secure parking.
Australian Property Journal
