HTL Property Curates Sale of Brisbane’s Mega-Sized Acacia Ridge Hotel for HPI

Listed property company Hotel Property Investments (ASX:HPI) has successfully engaged HTL’s Glenn Price and Brent McCarthy to sell its freehold interest in Brisbane’s ultra large format Acacia Ridge Hotel.

The off market transaction followed numerous approaches from parties seeking to acquire the 18,740sqm freehold, which is subject to a long term lease.

The purchase price of $25m indicates a yield of 4.44%.

HPI purchased the Acacia Ridge Hotel in March of 2019 for $20m, following a sale process again managed by HTL and which further underwrites the investment credibility the asset class enjoys.

“This is our second investment grade freehold hotel sale this Financial Year, following the QLD record sale of Brisbane’s Royal Exchange Hotel Toowong via auction at a yield of 4.01% in August” advised HTL Property Director, Glenn Price.

“Assets the size and quality of the Acacia Ridge Hotel, are so seldom available to market that it is of no surprise to us the robust nature of the exit price and yield achieved” Price concluded.

The Purchaser, a Brisbane based private investor who owns other commercial property holdings in the proximate area, was assisted in the purchase by CBRE’s Retail Capital Markets Director Joe Tynan.

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