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Oaks Darwin Elan Hotel hits the market

CBRE
Images by CBRE

Oaks Darwin Elan Hotel, Darwin’s leading serviced apartment hotel, has been listed for sale by Minor Hotels.

Located at 31 Woods Street, the property sits across two titles comprising 168 freehold hotel rooms and 93 fully self-contained apartments under a management letting agreement. The hotel features a range of guest facilities including the Original Australian Kitchen, conference and meeting facilities, and an outdoor pool and a gym.

CBRE’s Michael Simpson and Nick Hill are managing the sale via an International Expressions of Interest campaign.

“This is a rare opportunity to acquire an institutional-grade hotel in one of Australia’s thriving markets, supported by a rich pipeline of private and public infrastructure projects,” Mr Simpson said.

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“The Darwin and greater Northern Territory market is currently undergoing record investment, with the pipeline of projects increasing in the past year from $53 billion to $78 billion across the private sector, government led major infrastructure projects and defence infrastructure projects.”

Minor Hotel Group, one of Asia Pacific’s largest hotel owner-operators have provided a sale and leaseback option for the hotel lot. This option is underwritten by a strong and secure long-term lease to Minor Group with options through to 2044.

Mr Hill added, “We expect this campaign to generate significant interest from a wide range of domestic and international investors given Darwin’s record private and public infrastructure investment, the hotel’s size and conferencing amenities and its central CBD location. The hotel is perfectly situated to provide guests with easy access to the city’s major corporate and leisure demand drivers, including the thriving Darwin Waterfront Precinct and Smith Street Mall – the city’s dining, entertainment and shopping hub.”

The International Expression of Interest campaign closes Wednesday, 13 November at 12pm (AEDT).

Tags: CBRE, Elan Hotel, Oaks Darwin

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