NRL’s big buy in bid for $250m
James MacSmith
First published 28 February 2024
Daily Telegraph
The NRL has spent around $20m on a new hotel in a tourist hotspot as it continues its aggressive buy up of real estate assets.
The Australian Rugby League Commission, rugby league’s governing body in Australia, that is responsible for running the NRL, has purchased the 81-room Mercure Kawana Waters on Queensland’s Sunshine Coast.
The hotel was sold in the ‘early $20ms’ via JLL Hotels and Hospitality Group’s Gareth Closter.
It’s part of the NRL’s move to build a $250m asset base and adds to their $20m purchase of the Quest Hotel in Sydney’s Woolooware, near the Cronulla Sharks’ home ground in September and the $30m they paid for the Gambaro Hotel up the road from the iconic Suncorp Stadium in Brisbane.
As the NRL prepares to for a historic season launch in Las Vegas, The Mercure Kawana Waters shapes as another savvy investment. The hotel is close proximity to many key amenities and near the Sunshine Coast Stadium which serves as an NRL venue. Two weeks ag the Stadium hosted an NRL trial game between the Titans and the Dolphins
“Opportunities of this nature in South-East Queensland are highly sought after, let alone in a premium location on the Sunshine Coast,” Mr Closter said.
“This sale further demonstrates the institutionalisation of the mid-market hotel sector with a variety of sophisticated buyers actively seeking such opportunities to add to their existing holdings.
“This asset class has historically had fragmented ownership dominated by private investors, however we seen considerable amalgamation in recent times.”
https://www.realcommercial.com.au/ne...n-bid-for-250m
