Investment Summary
Investment Type:
Equity Investment
Location:
Newcastle East, NSW
Sector:
Accommodation, F&B and Residential
Acquisition:
Confidential
Disposal:
Unrealised
Investment Overview
- Counter-cyclical acquisition of a 3-star accommodation property in Newcastle during COVID-19 in December 2021, located approximately 200m from the beach. The property is a co-investment with development partner WINIM who have a demonstrated track record in hospitality and accommodation development projects.
- The business plan is to undertake a major refurbishment of the hotel with updated restaurant and day spa facilities and the development of rooftop residential penthouse apartments, taking advantage the irreplaceable height and ocean views of the existing property.
