Stonebridge Property Group, in conjunction with JLL’s Hotels & Hospitality Group, is pleased to announce the successful sale of The Motley Hotel Richmond, Tapestry Collection by Hilton, for $36 million following a competitive Expressions of Interest campaign.
Located at 203-207 Bridge Road, Richmond, the boutique freehold hotel was offered as a freehold going concern and attracted strong interest from both domestic and offshore groups, ultimately being acquired by a New Caledonia-based hospitality investor. Stonebridge’s Justin Dowers, Rorey James, and Kevin Tong, with JLL’s Nick Macfie and Peter Harper, were responsible for the sale.
Opened in 2023, the hotel comprises 80 boutique guest rooms across a 787 sqm* landholding, positioned less than 2 km* from the Melbourne CBD. The property features a distinctive design-led offering, including the ground-floor Ms Parker café and restaurant and the rooftop Threads bar with views across Richmond and the Melbourne skyline.
The property benefits from proximity to some of Melbourne’s most significant demand drivers, including Melbourne Cricket Ground, Melbourne Park, and AAMI Park, as well as the extensive retail and dining amenity along Bridge Road and Swan Street.
The sale price of $30.6 million reflects a price per key of $450,000 and a land rate of $45,743 per sqm.
Stonebridge National Partner Justin Dowers said the result reflected continued institutional confidence in Melbourne’s commercial real estate sector:
“The strong level of competition for The Motley Hotel demonstrates the ongoing appeal of high-quality bricks and mortar assets in prime metro locations. Victoria continues to attract both domestic and offshore capital who are seeking exposure to the state’s underlying fundamentals, which are expected to drive sustained long-term capital appreciation in commercial real estate.”
Stonebridge Property Group’s retail investments team brings over 100 years of combined experience and has successfully transacted more than $4 billion in major retail investments nationally over the last 5 years. The team specialises in neighbourhood shopping centres, supermarkets, sub-regional centres, large format retail, and Hardware (Bunnings) assets.