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 38 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 : 69.69%
Date of acquisition : 29 November 2012
Cost of acquisition(including incidentals) : AUD56,404,000
Fair value adjustments for the financial year : (AUD4,720,000) or (RM13,386,000)
Market value : AUD72,000,000
Date of last valuation : 30 April 2020
Independent valuer : Savills Valuations Pty. Ltd.
Net book value : RM210,929,000