Port Macquarie’s Mercure Centro sold to Laundy Hotels

Arthur Laundy’s daughter recently paid $13 million for Blacksmiths’ Orana Hotel.

The Laundy Hotel Group has acquired the 4.5-star Mercure Centro Hotel.

The freehold going concern for the five storey, 72-room corporate guesthouse is costing a speculated $25 million.

At 103 William Street, the asset includes a restaurant and bar, licensed rooftop space, conference areas, pool, spa and basement car park with 86 bays.

There are also two ground floor retail tenancies.

Laundy, which doesn’t own an asset in the town, will team with local hospitality operator Alistair Flower to run the asset.

The Mercure brand will stay under franchise.

“Whilst not housed in the same equity structure as our other beachside accommodation assets in Noosa, Manly and Terrigal, this coastal property intersects perfectly with our national investment objectives and adds deftly to the growing portfolio,” according to Laundy director Stu Laundy (story continues below).

HTL Property’s Andrew Jackson, Andrew Joliffe and James Carrick represented the long term owner occupiers, James and Helga Thomas, which held the asset via HLF Pty Ltd.

“The property has been…indexed to a franchise agreement in place to Accor Hotels, under the Mercure brand, since…opening in 2007,” the agents said.

“The uncomplicated corporate hotel ticks every box in terms of scale, quality and diversified income attributes,” they added.

Late last week we reported Danielle Richardson, the daughter of family patriarch Arthur Laundy, with her husband, Shane, paid c$13m for Blacksmiths’ Orana Hotel, north of Newcastle.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.