Quest Palmerston

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