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Hotel Accommodation

Quest Palmerston

18 The Boulevard , Palmerston City , NT

Hotel Accommodation

Quest Palmerston

18 The Boulevard , Palmerston City , NT

Expression of Interest |
Closing: 28 October 2021, 4PM

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Fully Leased Investment

  • A rare fully leased 4.0 star hotel offering, with options extending to 2044.
  • Passing Base Rent as of September 2021, is $1,467,270 per annum with 2.75% annual reviews.
  • Passing Net Income (exc. Turnover rent) of $1,404,593 per annum.

Superior Product in Palmerston

  • Freehold interest comprising 9-level, 84 key serviced apartment hotel with associated facilities.
  • Quest Palmerston is highly regarded as one of the premier accommodation offerings in the city.

Location

  • Located on a large 1,860sqm freehold site in a prime location in the business commercial hub of Palmerston – an established business travel destination. Palmerston City enjoys a diverse demand base including business, industrial and leisure demand.
  • Palmerston City is the largest secondary commercial hub in the Northern Territory and one of the fastest growing regions of not only the NT, but Australia.

Quest Branding

  • Operated under the Quest brand, the leading serviced apartment hotel operator in the Asia Pacific region and underwritten by a strong and secure long-term lease to Quest.

Limited Competition

  • The Quest Palmerston enjoys limited contemporary serviced apartment competition in growing Palmerston, a market typified by caravan parks and 3 star motels. This allows Quest Palmerston to capture considerable market share in an area drawing from diverse demand drivers.

Closing

28 October, 2021 at 4PM

Agent Details

Accommodation

Andrew Jackson

National Director

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