For Sale – The ibis Budget Coffs Harbour
JLL Hotels & Hospitality’s Andrew Langsford, Nick Roche & Taylor O’Brien, have been exclusively retained to market the ibis Budget Coffs Harbour.
The ibis Budget Coffs Harbour features 70 guest rooms, reception, restaurant, outdoor swimming pool and onsite parking that is strategically located within the Coffs Harbour CBD, within close proximity to the Pacific Highway and Harbour Drive.
There exists an opportunity for an incoming purchaser to redevelop the 3,205sqm freehold site with a current Development Application in place for a Mixed-Use Development comprising 98 Residential Apartments, 137 car parking spaces with one (1) Commercial unit.
Coffs Harbour is a large regional seaside city and popular holiday destination located in the heart of the New South Wales’ Mid North Coast between Sydney and Brisbane and is currently benefitting from a number of major infrastructure investments such as the Coffs Jetty Revitalisation Refined Masterplan, the 43-hectare subdivision of Coffs Harbour Airport, designed to attract a mixture of business and aviation-related enterprises to the area, and the federally funded expansion of the health facilities at Southern Cross University.
The ibis Budget Coffs Harbour comprises 65 guest rooms, reception, restaurant, swimming pool and onsite parking. Located in the heart of the regional town of Dubbo at the junction of Newell Highway and Victoria Street, the property is ideally positioned to accommodate both business and leisure demand within the town centre.
The ibis Budget Dubbo is also being offered for sale. Both of these well-established regional hotels are available to purchase either in-one-line or on an individual basis.
Nick Roche, Vice President said “These hotels are well positioned to benefit from significant ongoing investment in major infrastructure projects within their respective markets.”
The properties are owned by Iris Capital who acquired it as part of the 17-asset AccorInvest Portfolio in 2021. Chief Executive Officer, Sam Arnaout, said “Our group has evolved considerably in the past couple of years headlined by major development projects in Newcastle and the Gold Coast. It made sense to capitalise on investor interest and re-direct the proceeds into the core focus and future of our business.”
Both properties are currently managed by Accor however Vacant Possession is available upon sale.
