Fourteen months after buying Brisbane’s Gambaro Hotel, the Australian Rugby League Commission has secured a Quest hotel, under construction in Sydney’s Woolooware.
The vendor, also the National Rugby Leage commissioner, is believed to be paying about $20 million for the venue, next to the Cronulla Sharks home ground, Sharks Park, also known as PointsBet Stadium.
Also in the recently created Woolooware Bay Town Centre commercial zone, Novm was the vendor.
The ARC paid c$30m for the vacant Gambaro Hotel, about 300 metres from Suncorp Stadium – which had a raised profile in 2014 when ex-German chancellor Angela Merkel stayed there during a G20 Summit.
It is believed the buyer is keen to invest more than $200m on hospitality investments.
Quest Woolooware Bay
Quest Woolooware Bay, as it will be branded, opens in October.
With up to 71 rooms, a mix of studios, one, two and three bedrooms, at 461 Captain Cook Drive, it also includes a business lounge, conference facility and gym (story continues below).
“The location of Shark Park makes a lot of sense for the NRL as the buyer but they bought it in the face of stiff competition,” CBRE’s Michael Simpson, who marketed the property with Vasso Zographou, said.
The hotel is also about two kilometres from Wanda Beach.
“It is a high-quality asset in a location where pretty much every single room has expansive views of a bay or golf course, which makes it quite a unique Quest hotel which often opts for other locations, as it does not want to operate as a five star hotel” Mr Simpson added.
Quest is a member of Singapore based Ascott Group – the world’s largest serviced operator.
In Melbourne’s Collingwood, the group recently opened a facility within a mixed use building that replaced the Traveller’s suit factory.
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