Fraser Suites Perth sold for $105 million, set to become long-stay housing
The landmark hotel and adjoining office tower, located on Adelaide Terrace, have been purchased by the Department of Communities of the West Australian Government
In a move that highlights both the strength of Perth’s hotel investment market and the city’s urgent housing needs, JLL Hotels & Hospitality Group has confirmed the successful sale of Frasers Suites Perth for $105 million.
The landmark hotel and adjoining office tower, located on Adelaide Terrace, have been purchased by the Department of Communities of the West Australian Government. The 236-key property — comprising 85 studios and 151 one-bedroom apartments — will now be converted into long-stay housing to help alleviate Perth’s ongoing housing shortage.
The sale also includes a commercial office block of 11 lots, offering approximately 2,161sqm* of space.
Gus Moors and Andrew Langsford of JLL Hotels & Hospitality Group acted for the vendor, brokering the deal through an exclusive off-market process. The sale continues JLL’s impressive run of transactions in Perth over the past 18 months, which has seen the agency handle more than $200 million worth of hotel deals, including the Sebel West Perth, Rendezvous Perth, Flag Motor Lodge and Great Eastern Motor Lodge.
