Sofitel Wentworth collects $315m for Frasers

Frasers has sold the Sofitel Sydney Wentworth after seven years.

The deal, with New York based KKR in a partnership with Futuro Capital and Marprop, is worth $315 million.

The vendor held the property – built by Qantas in 1966 as Sydney’s first five-star hotel – in the Frasers Hospitality Trust.

It paid LaSalle Investment Management $234.55m.

That seller acquired it in 2010 from Tourism Asset Holdings for $130m.

At 61-101 Phillip Street, the 17-storey venue with 437 suites is expected to be refurbished with expanded food and beverage components (story continues below).

CBRE’s Michael Simpson and Tom Gibson brokered the latest deal – in which FHT will receive an additional $10.55m for a freehold reversionary interest.

Accor, which took over the leasehold in 2002, is committed for 14 more years.

The deal comes 14 months since Futuro paid c$210m in two parts for a Melbourne CBD office – 235 Bourke St.

Marprop has also been an active purchaser during the COVID environment, snaring offices in Canberra and Newcastle – the latter which includes the town’s family court.

Subscribe to our newsletter at the bottom of this page.

Share or Recommend article

Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of