QLD: Hotel sale, Kangaroo Point, Brisbane

THE Il Mondo Boutique Hotel in inner Brisbane has been purchased by a Chinese investment syndicate for $13.5 million.

The hotel was originally developed by GBW Developments in the 1990s, and occupies a 1580sq m site.

There is a possibility of residential redevelopment on the parcel.

PRICE: $13.5m

BUYER: Chinese syndicate

SELLER: GBW Developments

AREA: 1560sq m

AGENT: Paul Fraser and Peter Harper, JLL

Source:  The Australian - 12 September 2014