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Address/Location : Corner Exhibition and Lonsdale Streets, Melbourne, Victoria.
Property description : 16-storey hotel building comprising 186 rooms with 5 split levels of car park.
Property type : Hotel
Age : Approximately 41 years
Title details : Lot 1 on Plan of Subdivision 349277H (Volume 10323 Folio 372) and Lot 1 on Plan of Subdivision 349276K (Volume 10323 Folio 375) in the Local Government Area of City of Melbourne Council and Parish of North Melbourne.
Encumbrances/Limitation in title/ interest : The property is charged to secure financing and there is no restriction attached to the title.
Status of holdings : Freehold
Existing use : Commercial Building
Parking spaces : Approximately 80 bays
Average occupancy rate : 71.40%
Date of acquisition : 29 November 2012
Cost of acquisition (including incidentals) : AUD56,404,000
Fair value adjustments for the financial year : AUD4,049,000 or RM12,224,000
Market value : AUD80,000,000
Date of latest valuation : 31 May 2023
Independent valuer : CIVAS (NSW) Pty Limited
Net book value : RM248,308,000