THE agents selling a Hobart boutique hotel hope a predicted “strong trading upturn” post-coronavirus will lure interested buyers.
Islington Hotel on Islington Hotel Hobart at 321 Davey Street in Hobart, Tasmania is for sale by Colliers International
The award-winning Islington Hotel in South Hobart will go on the market through an expressions of interest process.
Islington Hotel on Islington Hotel Hobart at 321 Davey Street in Hobart, Tasmania is for sale by Colliers International
Real estate agents Colliers International say the 11-room hotel is being sold to allow the hotel’s overseas-based owners to recycle capital to expand other businesses.
Rose Room. Picture Chris Kidd
The sale will be targeted towards “boutique hotel and lodge owner operators, lifestyle investors looking for a tree change and high-end residential buyers”.
Rose Room. Picture Chris Kidd
Agent Karen Wales said the 1847 building was in Regency style, with a curated hotel featuring an art collection within a heritage facade including glass, marble and a sandstone facelift.
Islington Hotel. Picture: RICHARD JUPE
“The potential for additional trading upside also exists by increasing the room count and taking advantage of the strong trading upturn which is projected for Hobart’s hotel market over the medium term,” Ms Wells said.
Agent Guy Wells said the sale offered potential buyers the chance to get into an accommodation market which had been strongly growing.
Wine Cellar. Picture Chris Kidd
“While the events of 2020 are affecting the hotel sector globally, the outlook for the sector remains positive over the medium term, particularly in prominent domestic leisure destinations like Tasmania and specifically Hobart as the major point of entry to the island state,” he said.
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