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Case Study

Exclusive off-market campaign delivers strong result - Brisbane

Jones Lang LaSalle Hotels was appointed by a private entity to conduct an off-market sale campaign for Camelot Inn, Brisbane. Previously a hotel, the property was converted into long stay accommodation in 2003, to which presented investors with an extremely rare opportunity to acquire a purpose built, vacant possession hotel.
 
Prior to commencing the campaign we undertook our own feasibility study of which provided interested parties with quality advice relating to the cost of the property’s refurbishment and subsequent trading and profit potential. In addition to this, we engaged Jones Lang LaSalle’s retail leasing team to provide market insight for alternate use options for the building’s ground level as there was the potential to introduce a retail tenancy.
 
An informed and stream-lined campaign resulted with five offers received within two weeks. The property exchanged in December 201 at a sale price of A$12.5 million, which was well in excess of the vendor’s expectation.

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