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HVS Asia Pacific Hospitality Newsletter - Week Ending 14 May 2021

HVS Asia Pacific Hospitality Newsletter - Week Ending 14 May 2021 share this article Advertisements Fridcorp and Piety Group (“Fridcorp and Piety”) announced its AUD180 million acquisition of the Intercontinental Hotel Double Bay from China-based private equity firm, Shanghai United Real Estate Investment (“Shanghai United”). The 140-key hotel has a total gross building area of 19,545 square metres and occupies a 3,670-square-metre lot in the Eastern Suburbs of Sydney, 4-kilometres east of the CBD. The hotel features extensive conference facilities, a rooftop pool and bar, six retail tenancies, a spa, a gym, a restaurant and bar, and a 156-lot underground public car park. Fridcorp and Piety mentioned that they have several plans in place to restore the property to its former prestige. It was reported back on

Long Island sells for $20m, Daydream for sale next

Property by Lisa Allen Premium Content Subscriber only Buyer appetite for Queensland s Great Barrier Reef islands has not been quelled by COVID-19, with a Sydney hotelier about to pay close to $20m to purchase Long Island in the Whitsundays. The Sydney hotelier is expected to develop an upscale resort on the island between Hamilton ­Island and Airlie Beach that was this week sold by Sydney-based former investment banker David Kingston, through CBRE agents Wayne Bunz and Hayley Manvell. The 8ha property had long been on the market. Local Queenslanders said the deal was struck between the Sydney hotelier and Mr Kingston, former managing director of Rothschild Bank.

ASX to fall; Twitter tumbles on quarterly earnings

ASX closes lower as Beach Energy slumps 24pc Save Share Sarah Turner The ASX closed down 0.8 per cent, or 56 points, at 7025.8 on the last trading day of April, pulled down by losses for miners and banks. BHP shares fell 2 per cent, Rio Tinto fell 1.7 per cent and CBA shares dropped 1.1 per cent. Beach Energy shares plunged 24.1 per cent after downgrading its full year forecast. ResMed lost 4.2 per cent after dropping to a quarterly net loss. 4.16PM – Apr 30, 2021 Sarah Turner Abacus Property Group has exchanged contracts to buy four more self storage facilities for $44.2 million. It has also acquired the remaining 60 per cent interest in The Oasis Centre, Broadbeach, for $103.5 million.

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