McVay Real Estate Australia has been appointed to sell the property after handling the previous marketing campaign in 2015.
“The Hilton Surfers Paradise is one of the newest and most centrally located 5-star hotels in the market,” McVay managing director Sam McVay said.
“It will be acquired substantially below replacement cost and allows an incoming owner the ability to further enhance income through a number of value-add initiatives.”
McVay Real Estate’s Sam McVay said the Gold Coast market is among the best-performing destinations in Australia.
“The Gold Coast remains one of the best-performing markets in Australia with STR reporting Year to Date RevPAR up 15.6% on 2017.”
“We see the continued growth across the entire Gold Coast market over the coming years on the back of unprecedented infrastructure investment into the Airport, rail and roads.”
Crowne Plaza listed for $100 million
The Gold Coast’s Crowne Plaza has been listed on behalf of a Singaporean owner moving to capitalise on the current strength in the Gold Coast hotel market.
The hotel offers 370 rooms, a two-level penthouse, extensive retail space, a bar, 15 function venues, a 261-space parking complex and multiple food and beverage outlets.
Almost $2 million has been spent on upgrading the buildings central facilities and additional development approval has been procured with approval for 234 apartments in a 46-level tower.
CBRE Hotels has been exclusively appointed to manage the sale of Crowne Plaza.
“There are very few sites of this scale available for development in this precinct, and this opportunity also offers holding income, allowing flexibility for a developer to immediately undertake the residential development or hold until the next development cycle,” CBRE Gold Coast managing director Jonathan O’Brien said.