The Four Points by Sheraton Sydney, Central Park has changed hands. The hotel has been sold to Singapore-based Hoi Hup Realty Pte Ltd for AUD 201.8 million, approximately EUR 124.7 million, marking the group’s first-ever hotel acquisition on Australian soil.
A notable entry into the Australian market
Wong Swee Chun, Chairman of Hoi Hup, said the group was pleased to have completed its first hotel acquisition in Australia. He noted confidence in the outlook for the Sydney hotel market, which he said was underpinned by sustained demand, limited new supply and attractive long-term growth prospects.
The transaction was led by Gus Moors and Andrew Langsford of JLL’s Hotels & Hospitality Group, alongside Michael Simpson of CBRE Hotels. JLL’s Hotels & Hospitality Group, which recently advised on the sale of a 16-hotel portfolio in Kyoto, thereby confirms its active role in hotel transactions across the Asia-Pacific region.
Gus Moors, Managing Director at JLL’s Hotels & Hospitality Group, pointed to the continued strength of Sydney’s hotel investment market. He noted that institutional-grade assets remain scarce there, with acquisition opportunities of this calibre limited, and that the sale process attracted strong interest from both domestic and international investors. Andrew Langsford added that the property offered investors the chance to acquire a modern, well-located asset at the heart of Tech Central, with its strategic position within this fast-developing precinct, combined with recent refurbishment works, making it an attractive investment proposition.
An asset repositioned at the heart of the precinct
Opened in late 2018, the Four Points by Sheraton Sydney, Central Park has undergone substantial refurbishment work in recent months. An underused conference floor was converted into 12 new guest rooms, while the ground-floor food and beverage offering was renovated and repositioned to capture the precinct’s growing residential density and student population.
The property now comprises 309 keys, including 45 suites, a recently renovated bar-restaurant (“Dizzy Bird”), a fitness centre, 44 dedicated car parking spaces and 270 sqm of meeting and conference space. The hotel is managed by Marriott International under the Four Points by Sheraton brand.
Tech Central, epicentre of Sydney’s property and technology development
The property is located at 88 Broadway, Chippendale, within Tech Central, one of Sydney’s major technology and innovation precincts. The precinct brings together several multi-billion-dollar office developments, including Dexus and Frasers Property’s Central Place Sydney, a AUD 2.5 billion investment, approximately EUR 1.55 billion, comprising more than 140,000 sqm of office space.
An adjacent redevelopment near Central Station will also see Atlassian house 4,000 employees as anchor tenant of a 39-storey timber tower, representing a AUD 1 billion investment, approximately EUR 618 million. The precinct continues to prove its appeal to hotel investors, coming just weeks after the signing of the Radisson RED Sydney Haymarket, also located on the doorstep of Tech Central.
Strategic connectivity and location
The hotel benefits from excellent connectivity via Central Station, Sydney’s principal transport hub, served by trains, buses, light rail and the recently opened metro line. The property sits close to several major demand generators, including Chinatown, Surry Hills, the University of Sydney, the University of Notre Dame, the University of Technology Sydney, and the Darling Harbour convention and entertainment precinct.
At a glance by The Hospitality Tribune
Hoi Hup Realty enters the Australian hotel market with a AUD 201.8 million acquisition
Singapore-based Hoi Hup Realty acquires the Four Points by Sheraton Sydney, Central Park for AUD 201.8 million (approx. EUR 124.7 million)
First-ever hospitality acquisition in Australia for the Singaporean investor
309-key hotel located in Tech Central, Sydney’s fast-growing innovation precinct
Recent capex included converting a conference floor into 12 new guest rooms and repositioning the ground-floor F&B offer
Deal advised by JLL’s Hotels & Hospitality Group and CBRE Hotels
Hotel remains managed by Marriott International under the Four Points by Sheraton flag
