In a sale arranged by Colliers International, Travelodge Docklands has been sold to a property development and investment company based in Singapore.
Travelodge Docklands recently sold for $107 million in a sale arranged by Colliers International’s Gus Moors, Neil Scanlan and Guy Wells. It was sold by M&L Hospitality, a Singapore-based real estate investment group with an international portfolio of hotels, which was established by its chairman, Michael So Har Kum, in 2009. The group owns several hotels in Australia including the Four Points by Sheraton in Sydney, which is currently under re-development that will see it rebranded as a Hyatt.
The purchaser, Sing Holdings Ltd, lists its core business as property development and investment, and this purchase represents its first hospitality and first Australian asset. Also Singaporean, Sing was founded in 1964 and is primarily a residential developer.
Travelodge Docklands, sitting virtually next door to Etihad Stadium and the Southern Cross Railway Station and only a short stroll to the Yarra River, has always been a fantastic location for sports fans, corporate travellers and tourists. According to Docklands Cityscope, the hotel has 14 levels with 291 guest rooms, a restaurant and several meeting rooms, and was built in 2010.
The hotel previously traded at $53.8 million in January 2011.