DSR Asset Management report that Investors large and small are flocking to Australia looking for investments with security and good returns.
In one of the few hotel transactions to occur in Australia 2009, the Holiday Inn Adelaide has sold to Malaysian group, Hotel Grand Chancellor, for approximately $35million.
“Despite the current economic climate, the Adelaide hotel market has continued to perform well relative to other capital cities,” said Mark Durran of Jones Lang LaSalle Hotels’ “With these solid market fundamentals, the purchaser was attracted to the re-positioning potential the hotel offered though a refurbishment and expansion of the guest room inventory.”
The sale of the Holiday Inn is one of just a few major hotel transactions in Australia to occur this year. To-date there have been total hotel sales of $366million with the most notable deals including the Courtyard by Marriott North Ryde, Hyatt Regency Adelaide and Park Hyatt Canberra, all of which were negotiated by Jones Lang LaSalle Hotels.
David Redfern, of DSR Asset Management added “We have seen the volume of business in Australia growing month on month during Q2 and Q3 of 2009. Australia is becoming a “must have” addition to everyone’s investment portfolio”
DSR offer investments in a variety of locations in South Australia.
VN:F [1.9.17_1161]
Rating: 0.0/10 (0 votes cast)
VN:F [1.9.17_1161]
Related Posts
According to new research, annual real estate growth in Australia is at its strongest since 2003. Investors in the country may wish to know that Australian Property Monitors (APM) reported that house prices rose by 12.1 per cent over the course of the year. It is believed that this growth was driven in the early...
Australia property is likely to see massive demand from foreign buyers in the coming months, as the economy continues to drive out of recession far more aggressively than most. Earlier this month it was revealed that Australia’s level of employment within the economy had seen its second consecutive monthly rise last month, taking it up...
Australia is set for faster economic growth and shrinking budget deficits as it outperforms much of the developed world, the government announced today, feeding expectations for a rise in interest rates this week. The sweeping improvement in the government’s economic forecasts came as data showed national house prices jumped to a record high last quarter,...
Property investors are set to replace first-time buyers in the Australian property market in 2010, it has been claimed. Mortgage experts expect investment to continue on its upward trend but anticipate a change in who will buy, with first-time buyers likely to take a back seat as more well-off individuals look to capitalise on the...
The Australian government have one eye firmly open to the possibility of a “Housing market bubble” which resulted in the recent hike in interest rate. A report by QBE Lenders’ Mortgage Insurance (QBE LMI) points towards double digit growth between June 2009 and June 2012, QBE LMI chief executive Ian Graham told researchers that “low...
