Melbourne Park Hyatt - SOLD

The hotel is located on the eastern fringe of the Melbourne CBD within the Government precinct also in close proximity to major hospitals, MCG, Tennis Centre and entertainment precincts. Constructed in 1998/99 the hotel is comprises 21 levels and contains 240 guest rooms, bistro and restaurant/bar, health club and spa, business centre, ballroom and six additional function rooms. The property also includes parking for some 675 vehicles which apart from 40 reserved for hotel use are operated by Wilson Parking Australia. We have attributed $100M to the hotel component and $30M to the car park. The net income from the hotel in 2013 was approximately $5.8M which indicates a passing yield of 5.8%