Strong Market Fundamentals Result in 20 Hotels Sales in 26 weeks
Newly formed expert brokerage agency HTL Property concludes first half year with industry best performance.
The six months to December 2018 has highlighted a significant period of activity, one which has seen a range of transactions across NSW and which includes single asset, portfolio, metro and regional sales at strong exit yields.
“On a year on year same period comparative basis, our records indicate an 18% increase in transaction volume, and a 22% increase in average unit sale price. Whilst not of itself alone a complete summary for the state of the hospitality property market, the strength exhibited by our 26-week sale statistics certainly supports our long-held belief that the transaction landscape for AAA grade stock is as fertile now as it has ever been” commented HTL Property Asia Pac Managing Director Andrew Jolliffe.
“The cross section of hotels sold by HTL Property illustrates a robust market depth in the buyer universe, and the sale process mediums we’ve deployed ranging from auction, expressions of interest and discreet off-market campaigns have been both necessary and well received said Dan Dragicevich HTL Property National Pubs Director.
“We’ve been deliberately highlighting some target areas, such as Newcastle and the NSW North Coast, where our Sydney buyers have shown an genuine appetite for A grade stock” commented HTL Property Director Blake Edwards.
“HTL Property is particularly pleased with the past 26 weeks of sale activity, and following an additional AUD $100m worth of combined unconditional sales in the past week and not yet announced to the market, we are commensurately buoyed by the direction and shape of the asset class and wholly expect 2019 to replicate the current market prosperity” concluded HTL Property Asia Pac Managing Director Andrew Jolliffe.
HTL Property, 20th December 2018
