Aligned Corporate Residences, a new player in the serviced apartment sector, has listed the freehold interest in its Mackay property, presenting a compelling investment opportunity with an attractive net return.
CBRE Hotels’ Wayne Bunz, Hayley Manvell and Taylor Morris have been exclusively appointed to sell the freehold interest in Aligned Corporate Residences Mackay as demand for regional Queensland accommodation investments continues to rise.
National Director Wayne Bunz commented, “Freehold investment accommodation hotels continue to be highly coveted due to their scarcity, and the stable long-term passive income stream they provide.”
The anchor lease to Aligned Corporate Residences extends until 2029 with options through to 2054. Additionally, the asset incorporates a leased restaurant and two commercial suites, providing income diversification.
The Mackay CBD property features 97 modern rooms in studio, one-bedroom, and two-bedroom configurations. It occupies a sizeable 3,054 sqm land parcel and offers convenient access to major attractions, including the Convention Centre, Mackay Airport, Bluewater Lagoon, and the Whitsunday Islands. The surrounding area boasts a vibrant mix of dining, shopping, and entertainment options.
On-site amenities include a reception area, meeting and conference rooms, a swimming pool, rooftop BBQ area, and 79 undercover parking spaces.
CBRE Director Hayley Manvell added, “Our recent sale of the Coral Cay Mackay demonstrated that investors are increasingly drawn to regional areas seeking superior returns compared to those offered in top-tier cities, that are also above the current cost of debt.”
The Mackay accommodation market has shown remarkable resilience, with its key performance indicators reflecting an increase of 12% in occupancy, 18% in ADR, and 30% in RevPAR from pre-COVID (FY19) levels to FY23.
Ms Manvell noted, “Mackay is recognised as one of Queensland’s fastest growing regions with strong population growth projected. This is underscored by the 24.2% increase in house values and 16.1% increase in apartment values over the past 12 months.”
“The city is also undergoing substantial infrastructure development and investment, with over $14 billion in projects underway or planned. These developments are expected to enhance Mackay’s status as a key regional economic hub, boosting job creation, tourism, and overall livability.”
The Aligned Corporate Residences Mackay is being offered for sale by way of an Expressions of Interest campaign closing Thursday, October 17 at 4:00pm AEST (if not sold prior).
