Marketing and Sales campaign underway for IBIS Budget- Windsor

Brisbane, 13 May 2014 – A landmark property of Brisbane’s inner north, is to be offered to the market by way of an Expressions of Interest campaign. Targeting investors nationwide and abroad, the marketing and sales campaign is due to commence this week.

The freehold property, trading as IBIS Budget- Windsor, is under a secure management agreement with Accor- Australia’s largest hotel operator. Approximately 10 years remains on the current agreement, which commenced in 2004.

Formerly trading as a Hotel Formule One- the property has recently re-opened after an extended closure during extensive road infrastructure projects that saw land resumptions in the surrounding areas. After extensive refurbishment (circa $1 million) and a proactive rebranding to the popular IBIS Budget Brand the property is again open for business and trading strongly.

Wayne Bunz and Don Watson-Brown of CBRE Hotels have been appointed to sell the freehold interest in the property on behalf of the properties owners.

Mr Bunz said the campaign was expected to generate significant interest, particularly from entities and individuals already associated in the domestic hotel market.

“Brisbane has experienced strong population and economic growth in the past decade and the city has benefitted from a high level of investment and construction, particularly in the CBD.”

IBIS Budget Windsor is positioned very strongly to capitalize on its close locality to Brisbane’s largest Hospital and the $2.9 billion RNA redevelopment. In addition, the CBD is within 2.5km and access south east Queensland’s major arterials are on the properties doorstep.

“Brisbane is considered a secure and desirable investment market for properties of this quality, positioning and type. It will be highly sort after” Mr. Bunz said.

Situated on a 2100sqm land parcel, the property offers 50 refurbished guest rooms with sizable common areas and generous car parking. The IBIS Budget- Windsor is highly visible along Lutwyche Road, a major Brisbane CBD access that sees in excess of 45,000 vehicles past its doors each day.

“The short stay hotel market in the Brisbane CBD and near city markets is demonstrating particularly high levels of demand, with increasing room rates and high levels of occupancy. In particular, there is an increasing demand for quality short term accommodation facilities proximate to major employment, infrastructure and business precincts.” Mr. Watson-Brown said.

The IBIS Budget hotel brand is predominantly a two and a half (2.5) star, budget accommodation brand, located in city and regional areas, strategically aligned to commerce, public assets, airports, transport links and food outlets.

“Quality accommodation for budget conscious travelers is certainly unique for the inner city and fringe accommodation markets. The IBIS Budget offering in Windsor has a real point of difference to its direct competitive set, and is forecast to prosper due to this.”

In addition, Mr Watson-Brown said the property was expected to appeal to savvy investors interested in partnering Australia’s largest hotel operator.

“The incoming owner will benefit from the branding and management practices of Accor. Management agreements of this type give the investor a level of security that is proven and highly sort after throughout the Australian domestic hotel market.”

“Expressions of Interest” campaign closes Wednesday 11 June, 2014 at 12.00pm AEST (if not sold prior).

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue).  The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.