Brady banks $36m for boutique Melbourne hotel
EXCLUSIVE
Brady Group has sold a three year old boutique hotel in Melbourne’s inner east – banking $30.6 million or $36m for the freehold going concern.
The Motley at 203-207 Bridge Road, Richmond found favour with offshore based New Caledonia based hospitality investor, Orius Property, following an expressions of interest campaign launched a year ago.
Part of the Tapestry Collection by Hilton arm, the eight level complex incorporates a heritage façade with a restaurant and café, Ms Parker.
There is also a rooftop bar, Threads, which captures postcard city skyline views.
The 80 rooms are rated 4-star.
The site spans 787 square metres with the bulk exposed to Leggo Place.
This pocket of Richmond is about three kilometres from the CBD (continues below).
The Motley Hotel by Tapestry Collection by Hilton
Brady unveiled plans for the Richmond hotel in 2018 – at the same time as a Ringwood hotel, which it also completed originally as a Sebel, and sold in 2024, to Serene Capital, which transformed it to Rydges.
Accor had initially pre-committed.
JLL’s Nick MacFie and Peter Harper with Stonebridge Property Group’s Rorey James, Justin Dowers and Kevin Tong were the agents.
Operated under a franchise agreement, it was offered with vacant possession.
There is also a permit to activate more of the rooftop, possibly with a food and beverage offering.
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