Singapore family pay $26m for Perth hotel
Singapore’s Jaleel family, behind the JD Properties brand, has bought another Perth CBD hotel.
The freehold to the Pensione Hotel Perth at 70 Pier Street, on the south east corner of Murray, cost $25.815 million following an off-market deal agreed April.
The freehold going concern price is c$28.3m.
Aarons Hospitality Group, led by Warwick Evans was the seller.
Prior to a $3.5m refurbishment by Paul Fishmann’s 8Hotel in 2011, the hotel was known as the Aarons Hotel Perth.
It is now managed by ASX-listed EVT Group.
Mark Durran, who just moved from Savills to HTL Property, was the agent.
JD expands in Perth
The Pensione Hotel Perth contains 98 suites rated 3-star (continues below).
It was marketed for its potential to be extended and/or repositioned.
The site spreads 778 square metres zoned City Centre.
Elsewhere in the Western Australian capital, JD has held the Rydges Perth Kings Square since 2022.
It paid $26m for that property – a prefabricated property completed by Hickory at 621 Wellington St in 2016 as a Peppers.
Last month meanwhile, JD acquired Melbourne’s Hotel Indigo from Pro-invest Group for $75m while last year it paid the YMCA $34m for a 4-star Brisbane asset.
Its book also includes the ex-Rydges North Sydney, nowadays known as the Miller Hotel.
That property cost $75m from EVT in 2022.
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