CBRE Hotel’s Michael Simpson, Tom Gibson and Vasso Zographou are managing the sale via an Expression of Interest campaign closing 31 August 2023.
Located at 437 Hume Highway, the Ibis Budget Casula Liverpool is just over half an hour’s drive from the Sydney CBD and five minutes from Liverpool city centre. The hotel underwent substantial renovations in 2016 and features 74 modern, well-appointed rooms.
Ibis Budget Campbelltown, located at 3 Rennie Road in Sydney's south-west, is close to the Campbelltown town centre, train station, major road connections and key demand generators, such as Western Sydney University, TAFE NSW, Campbelltown Hospital, and Campbelltown Sports Stadium. The hotel was refurbished in 2011 and offers 72 rooms.
Managed by Accor, Ibis Budget is recognised globally as an economy hotel brand which offers consistent quality and value-for-money accommodation and services.
Together, the hotels offer 146 economy rooms, representing a combination of a well-established, highly profitable, income-generating business with substantial freehold land holdings.
The hotels are being offered for sale as a portfolio or individually and offer the option of vacant possession.
“This is an exceptional opportunity allowing an in-coming purchaser to acquire two profitable and well-positioned freehold going concern hotels that offer the flexibility of vacant possession or new management, product repositioning and future redevelopment,” Mr Simpson said.
The greater Western Sydney region is being established as a polycentric city with the development of the airport-centred Aerotropolis complemented by the strength of the existing centres of Liverpool, Greater Penrith and Campbelltown-Macarthur.
The region is experiencing a large proportion of Australia’s population growth and has positioned itself as the third largest economy in Australia behind the Sydney and Melbourne CBDs. Western Sydney Airport and several public and private developments are being added to the existing infrastructure to support the development of the Aerotropolis.
Mr Gibson added, “Complementing the remarkable growth that this region has witnessed over the last decade, the development of the new airport and Aerotropolis is anticipated to have a significant positive impact on these hotels."
“With a long history of profitability and appeal to a wide variety of demand segments including business and leisure, these assets will continue to benefit from the strong demand growth arising from the evolution of Sydney’s west.”