Chinese operator pays $31m for Melbourne hotel
A China based operator has acquired a strata hotel, part of the Trio mixed use precinct, in Melbourne’s east.
The Trio Hotel, as it is branded, at 845-849 Whitehorse Road, Box Hill, collected $30.7 million for Pomeroy Pacific as transaction manager.
Vacant, it contains 128 suites the incoming owner will fit out.
There is also a 90 seat restaurant, a cocktail bar and function and event space for up to 300 guests.
It includes an indoor pool, gym, sauna and steam room too.
“The buyer is a highly experienced hotel owner and operator in China and the flexibility offered by Trio Hotel Box Hill was a key driver in this transaction,” Savills’ Benson Zhou, who brokered the deal with Nick Lower and Mark Durran, said (continues below).
“We have seen consistent enquiry from Asian groups seeking scale, modern assets, and entry points into Australia’s major cities and growth corridors,” he added.
CBD Development Group delivered Trio.
Box Hill is about 14 kilometres from town.
More to come.
Subscribe to our newsletter at the bottom of this page.
