Brand new Adina Hotel West Melbourne for sale – JLL
Adina West End is a brand-new hotel that forms part of Trenerry Consortium’s landmark West End mixed-use development at the northern edge of the CBD. It has just been listed on the market.
JLL’s Peter Harper and Nick MacFie have been appointed exclusively to sell the property through an Expressions of Interest Campaign.
West End, one of Melbourne’s best mixed-use developments, is a resort-style living showcase. It was designed by some of Australia’s most celebrated architects, interior designers, and landscape artists. The large-scale mixed-use development, worth $395 million, includes the Adina Hotel West Melbourne and 378 luxury apartments, office space, eight restaurants, a supermarket, a gym, and 435 parking spaces.
The Adina West Melbourne is a new concept in inner-urban hospitality. It was designed by a team of architects, interior designers, and Bruce Henderson Architects. The Adina Hotel West Melbourne features 99 studios and one- and two-bedroom apartments. It also has a large restaurant on the ground floor (with two retail tenants), a rooftop lounge, and 27 underground parking spaces.
The retail leases are initially leased for ten years. This is a rare occurrence in the Australian hotel industry. The WALE is a very appealing 14.2 years, according to Peter Harper, Managing Director & Head of Investment Sales Australasia at Hotels & Hospitality Group.
The hotel is close to many vital commercial precincts in Melbourne and most of Melbourne’s leisure and tourism infrastructure. It also has several universities and hospitals nearby. The hotel is also positioned to benefit from the significant private and government development activity that has taken place in the precinct. This bodes well for future investment returns, thanks to a well-structured rental component of the lease, which captures long-term growth.
The fight for quality is evident in all sectors of real estate. With a brand-new building, a secure income profile over the long term, and tax depreciation advantages, it’s clear that Adina Hotel West End, with its prime location, will be sought after by both traditional and new investors.