HOTELS & TOURISM | Staff Reporter, Singapore

Singaporean family to sell Australian Crowne Plaza resort for $74m

The 269-room hotel sits on the Gold Coast Highway.

Deal Street Asia reports that a Singaporean family is selling Crowne Plaza Surfers Paradise, a 1.2-hectare resort complex in Australia’s Gold Coast Highway, for $100.75m (A$100m).

Marketing agent CBRE Hotels said the sale plans coincided with the owners’ decision to divest their only Australian hotel asset, to capitalise on a buoyant investment market and strong investor appetite.

The offering includes the 269-room Crowne Plaza Hotel, management rights for the 104-room Gold Tower, a two-level penthouse, extensive retail space, 15 function venues, a 261-space parking space, F&B outlets, and Queensland’s only revolving restaurant with a 360-degree view of the Gold Coast.

The 1.2-hectare landholding also offers additional development land with approval for 234 apartments in a 46-level tower. The assets will be sold in-one-line or individually through an International Expressions of Interest campaign.

Read the full report here.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.