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138 Barrack Street Perth WA 6000

  • Hotel, Motel, Pub & Leisure
  • 7,476 m²
  • For Sale, EOI Closing Tue, 14 June 2022

The Adina Perth

    Ray White Commercial (WA) and HTL Property are pleased to offer for sale the iconic Adina Apartments Hotel for sale by Expressions of Interest closing Tuesday, 14 June 2022 at 5pm (AWST).

    Adina Apartment Hotel Perth is the perfect central base being situated in the heart of the Perth CBD. The serviced apartment style hotel offers 100 spacious one and two-bedroom apartments and generous studio rooms. The property occupies a prominent and highly visible location bounded by Barrack, Murray and Wellington Street and has great upside future potential in further strata subdivision and conversion to Residential occupancy.

    The building comprises a 15-level residential and serviced apartment complex:
    • Basement - Car bays / storage areas / services
    • Ground Floor - Hotel Entry Foyer & Reception / Residential Entry Foyer - Residential Lift
    • Level 1: Service Area / Car Bays / Storage Facilities
    • Level 2: Hotel Apartments x 9 / conference rooms / gymnasium / swimming pool
    • Level 3 - 9: Hotel apartments x 13 per floor
    • Level 10 - 15: Residential apartments (not for sale)

    Hotel Lease Details
    • Lessee: Medina Property Services Pty Ltd
    • Commencement Date: 1 July 2007
    • Current Lease Term Expiry: 31 June 2027
    • Term: 10 years
    • Options: 5 years + 5 years + 5 years
    • Renewal: 1 July 2027
    • Rental: 38% of turnover including $1,000,000.00 in base rent
    • Lease Basis: Gross

    A plan for the further subdivision of the hotel strata lot into 100 individual strata units has been prepared but never completed. Subject to approvals this can be completed by a purchaser.

    There is a current approval for change of use from "Special Residential" to "Residential" which will allow an owner to lease or sell the individual units as Permanent Residential on the expiry of the hotel lease.

    The Adina Apartment Hotel is on the premium hotel strip of Perth on Barrack Street where you can also find the Como Treasury, Ritz Carlton, QT Hotel and the Westin Hotel. The property is located in close proximity to the Hay Street & Murray Street Malls retail entrances, the Perth City Train Station and close to the abundant retail shops, cafes, restaurants and bars in both the Perth City Centre and the Northbridge night life.

    Phil Zoiti
    Ray White Commercial (WA)
    M: 0419 993 656
    E: phil.zoiti@raywhite.com

    Brett Wilkins
    Ray White Commercial (WA)
    M: 0478 611 168
    E: brett.wilkins@raywhite.com

    Andrew Jolliffe
    HTL Property Sydney
    M: 0438 733 447
    E: andrew.jolliffe@htlproperty.com

    * approximate

    Property Highlights

    Floor Area7,476 m²
    Land Area1,859 m²
    ParkingAsk Agent
    Annual ReturnAsk Agent
    AvailabilityTenanted
    Property ID2017758022
    Category
    Last updated  28 May 2022
    Map for 138 Barrack Street Perth WA 6000

    Property Highlights

    Floor Area7,476 m²
    Land Area1,859 m²
    ParkingAsk Agent
    Annual ReturnAsk Agent
    AvailabilityTenanted
    Property ID2017758022
    Category
    Last updated  28 May 2022
    Level 3/319 George St Sydney NSW 2000
    Andrew Jolliffe
    Andrew Jolliffe
    HTL Property
    Brett Wilkins
    Brett Wilkins
    Ray White Commercial (WA)
    Phil Zoiti
    Phil Zoiti
    Ray White Commercial (WA)

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