JLL to market Sydney Airport Holiday Inn
The Holiday Inn at Sydney Airport is up for sale for around $60 million as the Schwartz Family Trust reviews its investment portfolio to underwrite its $368 million investment in the International Convention Centre Hotel at Darling Harbour.
Jerry Schwartz raised $98 million through the sale of his Deepwater Plaza shopping centre north of Sydney to Dexus Property and is looking at Holiday Inn at Sydney Airport as well as the Mercure Sydney and the Ibis King Street Wharf and the Fairmont resort in the Hunter Valley as potential divestments.
JLL Hotels & Hospitality group’s managing director of investment sales, Mark Durran, 4½-star Holiday Inn is operated under a management agreement with IHG expiring in December 2016 when vacant possession will be available.
Andrew Langsford, associate, investment sales, JLL Hotels & Hospitality Group, has also been retained to sell Quest Chermside. The 4½-star, 54 key, serviced apartment hotel is located 150m from Westfield Chermside, Queensland’s largest shopping centre.
