The Esplanade Hotel Fremantle has been listed for sale as owners look to capitalise on strong investor demand for large scale hospitality assets across Australia.
Located at 46-54 Marine Terrace and 7 Essex Street with a combined total site area of 12,551 sqm, the hotel is available with vacant possession.
It comprises 300 guest rooms/suites and amenities include two outdoor swimming pools, a fitness centre and conference facilities as well as food and beverage offerings including The Atrium Garden Restaurant, Marine Lounge Bar, The Harbour Master and Ball & Chain.
CBRE’s Aaron Desange and Michael Simpson are managing the sale via an International Expression of Interest campaign closing 7 May, 2024.
“Esplanade Hotel Fremantle occupies one of Fremantle’s most significant corner sites and is well positioned to benefit from the public and private investment pouring into the port city,” Mr Desange said.
“The asset offers future development opportunity given the multiple landholdings, allowing a purchaser to enhance the overall precinct and realise the site’s full potential through either co-living or student accommodation schemes.”
Mr Simpson added, “Over the past year RevPAR in the Perth market has hit record highs primarily driven by the continued growth and demand for leisure as well as the sustained mining and resources sector of Western Australia.”
“With limited supply expected over the medium term, combined with increases in international visitor arrivals and the return of the conferencing market, hotel owners are expecting to see robust growth over the coming years.”
