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Perth hotel purchased
Eureka Funds Management sold the Holiday Inn City Centre, Perth, in a deal negotiated by agents of CBRE Hotels.A major hotel in the Perth CBD has been purchased from a funds management organisation by a local investor syndicate.

Getting a Rise from Adelaide
Image originally from Realcommercial.com.auA licensed club in the Adelaide CBD, formerly a mission hall, has been sold privately by agents of McGees Property.

Bar to benefit from redevelopment
Melbas on the Park, located on Cavill Avenue, Surfers Paradise, is expected by the selling agents to be one of the most sought-after hotel offerings this year.A bar, restaurant and nightclub complex in Surfers Paradise, Queensland, is to be offered for sale through CB Richard Ellis.

Pub sales signal end of standoff
Close to $60 million in property is understood to have been exchanged by CBRE Hotels over the past week, including two pub freeholds in Sydney that were put to market by Hedley Leisure and Gaming Property Fund as part of a $400 million portfolio.The standoff between pub buyers and vendors appears to have ended, according to CBRE Hotels, with sale agreements being reached for a number of properties over the past week.

North Queensland hotels purchased
Known as Rydges Gladstone and Rydges Townsville, the properties were sold by vendor Abacus Hospitality Fund. Entertainment, hospitality and leisure operator Amalgamated Holdings Limited has entered into a contract to purchase hotel properties in Gladstone and Townsville, Queensland.

Fish to throw Beach back
The Beach Hotel at 2663 Gold Coast Highway is to be sold by Gold Coast-based development identity, John Fish.A hotel property with development potential on Queensland’s Gold Coast has been placed on the market by agents of Colliers International.

Successful hotel auction
The Ravenswood Hotel at 1 Barton Street, Ravenswood, south of Townsville, comprises 100 sqm of floor area and 14 hotel rooms with a 90% occupancy rate.A hotel property in Ravenswood, Queensland, has been sold at auction by agents of Ray White Hotels and Leisure.

Technology to connect hotel auctions
CBRE Hotels and Burgess Rawson are managing the sale campaign for the hotel freeholds located throughout Melbourne, Adelaide, Brisbane and the Sunshine Coast.ALE Property Group is planning to put seven hotels under the hammer using audio visual technology to connect auction rooms across four states.

Darwin hotel sale boosts market
The waterfront Novotel Atrium at 100 The Esplanade, Darwin, fronting Darwin Harbour, was sold on behalf of vendor Tourism Property Investment Group to Darwin-based Halikos Group.A Northern Territory hotel has been sold in an off-market transaction by agents of Colliers International, who say that the deal demonstrates confidence in the local market.

New tool to help with depreciation
Washington-Brown---Tax-Calendar.jpgQuantity surveyors, Washington Brown, have launched a new tax depreciation calculator stating that in these uncertain economic times people need to be maximising the returns from their investment properties.

Sydney retail attracts Asian interests
According to agents of CBRE, the sale of 185 Castlereagh Street had been finalised amid renewed interest in Sydney CBD investment opportunities, particularly for retail properties.The sale of a hotel and retail complex in the Sydney CBD has been chalked up to growing Asian interest in the Australian property market, according to CB Richard Ellis.

Adelaide hotel market still performs
Jones Lang LaSalle Hotels executive vice president of investment sales, Mark Durran, negotiated the deal following an international expressions of interest campaign.In one of the few hotel transactions to occur in 2009, the Holiday Inn Adelaide has sold to listed Malaysian group, Hotel Grand Chancellor.

Seven magnificent hotels
The campaign follows the successful June 2009 auctions of five ALE hotels in Sydney and Melbourne, which were sold under the hammer for a combined $27.8 million at yields as low as 5.05%.A portfolio of seven hotels in Queensland, South Australia and Victoria, is to be marketed for sale by the ALE Property Group.

No losers at Snooze Inn auction
The Snooze Inn, located at 383 St Pauls Terrace, Fortitude Valley, was sold under the hammer for $2.6 million to New South Wales hotelier, John Draper.A boutique motel in Fortitude Valley, Queensland, has sold at auction for in a deal highlighting the continued strong performance of the Brisbane accommodation sector, according to CB Richard Ellis

Slow year for hotels
hotel2.jpgAll indicators are pointing to the likelihood that 2009 will indeed be one of the slowest years, in terms of hotel transactions, that Australia has seen for the past 10 years.

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