Jones Lang LaSalle : One of Australia’s most anticipated hotels has been placed on the market

JLL appointed to handle the sale of The Ritz-Carlton Perth

One of Australia's most anticipated hotels, The Ritz-Carlton Perth, has been placed on the market. JLL Hotels & Hospitality Group has been exclusively appointed to lead the transaction through an international expressions of interest campaign. The hotel is part of a larger mixed-use development, the landmark Elizabeth Quay, and will be sold on a turn-key basis by developer Far East Consortium.

Due for completion in 2019, the property will feature 205 guestrooms and suites, a collection of four dining venues, a wide range of contemporary meeting and banqueting facilities, The Ritz-Carlton signature spa, fitness centre and various recreational facilities

Situated along the foreshore of the Swan River, the hotel occupies Perth's most coveted location in Elizabeth Quay, just a short distance from the city's major leisure attractions together with the key resources, financial, legal and government offices. Furthermore, it will likely to benefit enormously from corporate attractions including the Perth Convention and Exhibition Centre.

Aaron Desange, Executive Vice President, Investment Sales, JLL Hotels & Hospitality Group said, 'The Ritz-Carlton Perth will be an exceptional trophy asset and one of the leading hotels in Australia. Its outstanding location will ensure the hotel is well positioned to capitalise on top corporate demand and high-end leisure travellers'.

Craig Collins, CEO Australasia, JLL Hotels & Hospitality Group said, 'The Australian hotel market continues to be a focus of investors throughout Asia and we are anticipating a solid level of interest in this asset. There are currently very few trophy assets for sale across key cities in the Asia Pacific region and we expect to receive interest in this opportunity from large-scale investors based in China, Singapore, Hong Kong and Malaysia.'