172 Room Kimpton Margot Sydney Hotel Listed for Sale
International fund manager Pro-invest has listed one of Australia’s leading boutique luxury lifestyle hotels, the Kimpton Margot Sydney, for sale.
The Kimpton Margot Sydney opened in February 2022 and is the luxury boutique brand’s first foray into Australia.
Located at 339 Pitt Street, the hotel comprises 172 of the city’s largest and most luxurious guestrooms and suites, world-class food and beverage offerings including Luke’s Kitchen by celebrity Chef Luke Mangan, The Wilmot Bar, Cellar by Luke, Pantry at Margot’s and Harper’s Rooftop Pool Bar. Other premium luxury facilities include a rooftop swimming pool and a 24-hour fitness centre.
CBRE’s Michael Simpson has been exclusively appointed to manage the sale via an International Expression of Interest campaign closing Thursday, 11 July 2024.
“As Australia’s leading economic and tourism hub, Sydney CBD assets are tightly held and highly sought-after investment opportunities. Situated directly across the road from the new Gadigal Metro Station and the 47,800 sqm premium grade ‘Parkline Place’ office development, the Kimpton Margot Sydney enjoys prominent positioning within steps of some of Sydney’s biggest demand drivers,” Mr Simpson said.
“These include major business and corporate headquarters, the $3 billion Tech Central Development, the proposed $11 billion Central Precinct Renewal Plan, Town Hall Station, Hyde Park, the Queen Victoria Building, Pitt Street Mall, Chinatown, and Capitol Theatre.”
There are also material value-add opportunities, as both development and heritage approvals have been granted to deliver an additional 16 rooms and two conference rooms.
Ronald Barrott, Founder and CEO of Pro-invest said, “The Kimpton Margot exemplifies Pro-invest’s ability to strategically reposition and operate underperforming assets and turn them into flagship hotels.”
“Through extensive renovations, the introduction of celebrity dining concepts – Harper, Sydney’s largest open-air rooftop bar – and a focus on unparalleled guest experiences, the hotel’s strong position and performance make it a stand-out opportunity for institutional investors or family offices looking to gain exposure to Sydney’s thriving luxury hotel market.”
Mr Simpson added, “Sydney is Australia’s most sought-after investment destination. It has extremely high barriers to entry. The combination of the scarcity of developable city-centre land, urban planning constraints and high construction costs make the offering of The Kimpton Margot Sydney a truly generational opportunity.”
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