Park Regis Hotel placed on the market by iPG
Staff reporterDecember 7, 2020
iProsperity (iPG) has listed its Park Regis Hotel asset in Sydney with offers due March 13.
The 122-room hotel stratum comprises 10 levels of the 45-level mixed-use tower.
Located at the corner of Park and Castlereagh streets, the hotel comes with an outdoor rooftop pool along with 39 car spaces.
iPG Group CEO, Michael Gu said Sydney’s hotel market remains "the red-hot stand-out performer in the Asia Pacific region".
iPG purchased it in 2016.
The hotel is being offered with a management agreement with Staywell Holdings, a subsidiary of the Japan-based Prince Seibu group, which provides an annual underwrite of the trading performance until the end of 2021.