Developments
Another Sydney hotel sold
Singapore-based Frasers Centrepoint Ltd has bought the Sofitel Sydney Wentworth hotel for $202.7 million through its wholly-owned subsidiary, Frasers Hospitality Investments Melbourne P/L.
This will be its fifth hospitality asset in Australia since it started operating in Australia in 2008.
The seller is LaSalle Investment Management and Accor Asia will remain as the manager of the Sofitel Wentworth.
Wayne Bunz, senior director of CBRE Hotels Australia, said he is in due diligence for about $70 million of hotels in Sydney, with interest being shown by Asian investors.
