CBRE Hotels is proud to present for sale, an outstanding future development site, currently trading as the 42 room Akara Hotel.
This is an opportunity to acquire the Freehold Interest of 379 Wellington Street, Perth.
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Perth’s accommodation and hospitality sector has seen substantial growth over the past 12 months as the CBD continues to evolve with key infrastructure projects including Elizabeth Quay, Perth City Link and the under construction Edith Cowan University city campus.
Premium Location
Prominently located near the corner of Wellington and Barrack Streets, the property benefits from their proximity to public transport, Elizabeth Quay, Perth City Link and the Hay and Murray Street Malls.
Current and Future Activity Precinct
Completion of major infrastructure projects (Edith Cowan University, redevelopment of Yagan Square) are expected to redefine the northern end of the city.
Top 2 Australian RevPAR Growth Market
Perth is the second highest RevPAR growth market in Australia with a 34.5% increase from July 2022 to July 2023, driven by a 17.5% increase in occupancy levels and 14.5% increase in ADR.
Tourism Revenue
Tourism contributed over AUD $14 billion annually to the Perth economy.
Offers to Purchase campaign closing Thursday 4th April 2024 at 3pm AWST
Remember to mention you found this property on DevelopmentReady
