Mantra MacArthur hotel in Canberra for sale
The Mantra MacArthur hotel and adjacent midtown parking station situated on Northbourne Avenue in Canberra has been listed for sale.
The Mantra MacArthur is one of Canberra's newest accommodation offerings, providing 176 guest rooms with a restaurant and bar, conference, gym, retail tenancies and 62 underground car parking spaces.
Located adjacent to the new MacArthur light rail stop, the hotel is currently leased to Mantra Group, a subsidiary of AccorHotels, providing a secure income stream, with opportunity for trading upside through additional turnover rent.
The Canberra accommodation market has seen growth in both occupancy and average daily rate (ADR) over the previous four years, with full year revenue per available room (RevPAR) growth of over 4% in 2018 compared to 2017, according to the listing agents, JJL Hotels & Hospitality Group and Savills Hotels.
"With excellent real estate fundamentals, certainty of income and several value-add opportunities, the sale of the Mantra MacArthur and Midtown Parking Station presents a coveted investment opportunity in one of Australia's best performing markets," said Andrew Langsford, Vice President of JLL Hotels and Hospitality Group.
"Canberra's outlook for continued economic growth, together with the ability to acquire an asset with diversified income streams in a strategic location amongst Canberra's best demand drivers will attract stong interest from both domestic and international investors," said Michael Simpson, Managing Director of Savills Hotels.
