BEST BIDS BY INFORMAL TENDER – 12 NOON FRIDAY 8th NOVEMBER 2024

The property was constructed in 2006 comprising 148 en-suite bedroom hotel with bar and restaurant set over ground and eight upper floors. The ground floor comprises an open plan reception, bar and restaurant with access and egress via both Alfred Street to the front and Adelaide Street to the rear. Back of house areas on the ground floor include offices, stores, and goods in/out areas. Upper floors are used as guest accommodation. The top two floors have recently been refurbished to provide Premier Plus rooms.

The building is of traditional construction with blockwork walls, precast concrete flooring and a steel frame. Walls on the ground floor are primarily comprised of double-glazed units. Upper floors are “duplicated” with guest rooms accessed from a central corridor. There is an additional retail unit situated to the front of the Hotel on Alfred Street which is being retained by the vendor.

The property forms part of the wider Adelaide Exchange scheme which in addition to the hotel comprises 140,000 sq ft of grade A specification open plan offices arranged over ground and 8 upper floors, a high-quality landscaped courtyard to the rear and basement car parking for 180 cars. Tenants within Adelaide Exchange include Applied Systems, Liberty IT, VELA and Genpact Pharmalink.

The property sits on a site of approximately 0.2 acres.