300-room Esplanade Hotel Fremantle listed for sale
The owners of The Esplanade Hotel Fremantle have put the venue up for sale as they look to capitalise on growing demand for large-scale Australian hospitality assets.
The Essex St hotel covers 12,551 sqm and is available with vacant possession.
The hotel features two outdoor swimming pools, a fitness centre and conference facilities, while hungry guests can enjoy The Atrium Garden Restaurant, Marine Lounge Bar, The Harbour Master and Ball & Chain.
There are 300 guest rooms/suites.
An international expression of interest managed by CBRE’s Aaron Desange and Michael Simpson closes on May 7, 2024.
“Esplanade Hotel Fremantle occupies one of Fremantle’s most significant corner sites and is well positioned to benefit from the public and private investment pouring into the port city,” Desange said.
“The asset offers future development opportunity given the multiple landholdings, allowing a purchaser to enhance the overall precinct and realise the site’s full potential through either co-living or student accommodation schemes."
Simpson said interest in commercial property in WA was at record highs “primarily driven by the continued growth and demand for leisure as well as the sustained mining and resources sector of Western Australia”.
“With limited supply expected over the medium term, combined with increases in international visitor arrivals and the return of the conferencing market, hotel owners are expecting to see robust growth over the coming years,” Simpson said.
Jonathan Jackson, 4th April 2024
