Discover the Ultimate Accommodation Experience with SEQ Quest Hotels

  • A private owner is selling a pair of hotels located in Chermside and Ipswich in southeast Queensland, both of which are branded as Quest hotels. The sales are being handled by Wayne Bunz and Hayley Manvell of CBRE through an Expression of Interest campaign, which will conclude on March 23, 2023.

According to Mr. Bunz, both hotels have long-term leases with Quest franchisees that are strong and secure. The operations for both hotels are set to continue until 2038 for Chermside and 2049 for Ipswich, with rental amounts of approximately $1.35 million and $1.11 million respectively. These sales offer investors the opportunity to obtain two significant accommodations located in the rapidly growing areas of Southeast Queensland.

Ipswich City, located 40 minutes from Brisbane, is predicted to have an estimated population of over 150,000 by 2036 and is currently Queensland’s fastest-growing city. Chermside is situated in Brisbane’s northern corridor and is an economic and employment hub that benefits from health care exposure, retail, sporting groups, government industry, and defense force presence.

The Quest Ipswich was recently renovated and covers a 4,556 sqm site with 32 self-contained apartments, including studio, one-, two-, and three-bedroom configurations. The hotel provides guest services such as a meeting and conference room, on-site reception, an outdoor swimming pool, and on-site parking.

Quest Chermside is located on a 1,220 sqm site and comprises 54 serviced apartments with studio and one-bedroom configurations, on-site reception, meeting and conference facilities, and undercover parking. Ms. Manvell stated that freehold accommodation properties with a robust covenant profile to long-term tenants are tightly held assets and are seldom traded. Therefore, strong investor interest is expected throughout this campaign.

Southern and offshore capital sources will continue to seek quality accommodation assets in the region due to the booming accommodation and hotel industry in South Queensland, the development pipeline, and the upcoming Olympics.

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