Charter Hall Direct Sydney Airport Hotel Fund

Fund Overview

The Fund has acquired the Mercure Sydney International Airport Hotel (Hotel) for $76.4 million. $50 million has been raised to assist with the acquisition of the Hotel. The Fund was launched on 24th October and closed significantly oversubscribed.

Charter Hall plans to undertake an extensive refurbishment and repositioning of the Hotel to enhance revenue and occupancy, and increase the value of the hotel.

The hotel is located at 22 Levey Street, Wolli Creek, a short distance from the the Sydney International Airport, and one of only three hotels in the International Airport precinct.

Key Financial Information

Fund Type The Fund is a single asset, closed end, unlisted hotel fund.
Location 22 Levey Street, Wolli Creek, Sydney
Number of Rooms 271
Hotel Operator / Brand  Accor / Mercure
Rating 4-star
Forecast IRR 14.4% p.a1
NTA ($) 0.90 (as at 30 June 2018)
Property Value $78.0m
Fund Expiry June 2023

1Post fees, pre-tax over the life of the Fund.

Our Board

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

Our Executives

Ben Dodwell
Head of Diversified Development
BA (I.D.), Grad. Dip. App. Fin. SIA, DIP PROP FIN, MAICD
Adrian Harrington
Head of Capital & Product Development
B.SC (HONS), FFINSA, GAICD
Travis Butcher
General Manager, Finance - Diversified
B.Acc, CA, Grad. Dip. AFI SIA
Scott Martin
Head of Finance - Diversified
B.Com, CA
Mark Stewien
Head of Legal - Diversified
LL.B, BCom (Finance)
Sean Wilson
Investment Manager
B.com, B.Bus (Real Estate Development & Valuation)

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