One of Australia’s most anticipated hotels, The Ritz-Carlton Perth, has been placed on the market. JLL Hotels & Hospitality Group has been appointed to lead the transaction through an international expressions of interest campaign. The hotel is part of a larger mixed-use development, the landmark Elizabeth Quay, and will be sold on a turn-key basis by developer Far East Consortium.
Due for completion in 2019, the property will feature 205 guestrooms and suites, four dining venues, a wide range of meeting and banqueting facilities, a spa, fitness centre and various recreational facilities.
Aaron Desange, executive vice president, investment sales, JLL Hotels & Hospitality Group said: “The Ritz-Carlton Perth will be an exceptional trophy asset and one of the leading hotels in Australia. Its outstanding location will ensure the hotel is well positioned to capitalise on top corporate demand and high-end leisure travellers”.
Craig Collins, CEO Australasia, JLL Hotels & Hospitality Group said: “The Australian hotel market continues to be a focus of investors throughout Asia and we are anticipating a solid level of interest in this asset.
“There are currently very few trophy assets for sale across key cities in the Asia Pacific region and we expect to receive interest in this opportunity from large-scale investors based in China, Singapore, Hong Kong and Malaysia.”