Folkestone Green Square Hotel Fund

Fund Overview

In November 2016, Folkestone entered into a 50/50 joint venture with Furnished Property to develop a 144 room Hotel at Green Square, Sydney.

The site, at 18 O’Riordan Street, Alexandria, is located within the $13 billion, 278 hectare Green Square Urban Regeneration Area (‘GSURA’) and is strategically located approximately 100 metres from the Green Square Train Station. The Sydney Airport Domestic and International Terminals are two and three stops respectively to the south with Central Station, one stop to the north. Green Square is one of the most significant urban transformation programs under construction in Australia, revitalising the industrial edge of Sydney’s inner south into a vibrant global village. Green Square Town Centre, which is the centerpiece of the GSURA, is in close proximity to the proposed hotel.

Folkestone launched the Folkestone Green Square Hotel Fund in November 2017, to raise $23.2 million of third party capital, which together with construction finance, will fund the development of the hotel on a fund-through basis reducing FLK and Furnished Property‘s funds employed to develop the hotel. The Fund will own the hotel long-term.

Construction commenced late 2017 with the hotel forecast to open in early 2019. Furnished Property has taken a 10 year lease (with 8 x 5 year options), with a minimum base rent with annual increases, and a turnover rent. Furnished Property will operate the hotel under their Veriu Hotel & Suites Brand.


Source: City of Sydney

Sector Hotel
Location 18 O’Riordan Street, Alexandria, NSW
Number of Rooms 144
Hotel Operator / Brand Veriu Hotels & Suites
Folkestone Interest (%) 50
JV Partner Furnished Property
Construction Completed Early 2019

Our Board – Folkestone Funds Management Limited

Grant Hodgetts
Non-Executive Chairman
BA, Assoc Dip Val, AAPI, MAICD
Greg Paramor AO
Managing Director
FAPI, FAICD, FRICS
Ross Strang
Non-Executive Director
LLB (HONS), MAICD
Adrian Harrington
Head of Funds Management
B.SC (HONS), FFINSA, MAICD

Our Executives – Folkestone Funds Management Limited

Greg Paramor AO
Managing Director
FAPI, FAICD, FRICS
Adrian Harrington
Head of Funds Management
B.SC (HONS), FFINSA, MAICD
Ben Dodwell
Head of Real Estate
BA (I.D.), Grad. Dip. App. Fin. SIA, DIP PROP FIN, MAICD
Travis Butcher
Chief Financial Officer – Funds
B.Acc, CA, Grad. Dip. AFI SIA
Scott Martin
Chief Financial Officer & Company Secretary
B.Com, CA
Mark Stewien
General Counsel
LL.B, BCom (Finance)
Sean Wilson
Investment Manager
B.com, B.Bus (Real Estate Development & Valuation)

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