Completion of major 5-star Sydney CBD hotel transaction

JLL Hotels & Hospitality Group is proud to announce the successful completion of the Primus Hotel Sydney transaction for $131,500,000.
We would like to thank Greenland for entrusting JLL Hotels & Hospitality Group with such an important mandate and congratulate Pro-invest on acquiring a flagship 5-star hotel asset in Australia’s most coveted hotel investment destination.
The Primus Hotel Sydney is a luxury Sydney CBD hotel that features 172 guest rooms and suites together with a lobby bar, restaurant, rooftop bar and approximately 480sqm of conference and meeting space. Further hotel dedicated amenities include a rooftop swimming pool, gymnasium and 12 car parking spaces.
Existing 5-star hotels in Sydney CBD remain very tightly held and thus this opportunity attracted significant interest from a broad range of capital sources, both domestic and international, especially given the vacant possession nature of the opportunity.
The highly successful transaction outcome reflects the depth of capital currently seeking prime hotel assets in Sydney and Australia’s major capital cities more broadly.
For further information on this transaction or the broader Australian hotel investment market, please contact JLL Hotels & Hospitality Group.