In Brief: A private syndicate has secured the leasehold of the Albion Manor Motel in inner-city Brisbane, reflecting heightened accommodation investment activity in the lead-up to the 2032 Olympic Games.
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Albion Manor Motel – Image Credit CBRE
A private syndicate has acquired the leasehold interest in Brisbane’s Albion Manor Motel through an off-market expressions of interest campaign managed by CBRE Hotels.
The purchaser is entering the Queensland accommodation market for the first time. The campaign attracted interest from qualified investors in Queensland and interstate.
CBRE Hotels Director Hayley Manvell and Senior Negotiator Taylor Morris managed the campaign.
Albion Manor Motel is located on Sandgate Road in Brisbane, one of the city’s arterial corridors. The property has access to Brisbane Airport, the CBD, Royal Brisbane and Women’s Hospital, Suncorp Stadium and infrastructure associated with the Brisbane 2032 Olympic and Paralympic Games.
The motel occupies a 1,112-square-meter site and includes 16 guest rooms and a two-bedroom manager’s residence. Facilities include a swimming pool, guest laundry, BBQ facilities, luggage storage and undercroft parking.
Potential for owner operation was an operational consideration for the purchaser.