Macq 01 hotel in Hobart sells for $50m

The MACq 01 Hotel on Hobart’s waterfront has sold for a reported $50 million to a group of wealthy investors.

Opening just two years ago, the 4.5 star waterfront hotel offers 114 guest rooms and suites as well as a high-end restaurant and bar and shops. It was put up for sale last year by developers Vos Group with a roughly $60 million price tag.

The new owners include the Farrell family, whose Federal Group operates the MACq 01 alongside numerous hotel, tourism and leisure assets, the Rockefeller family led by Ohio-born Robert Rockefeller and New Zealand-born Victoria Rockefeller, and the Newton Family, which includes Knight Frank partner Scott Newton.

JLL Hotels & Hospitality Group handled the sale.

“We have transacted four hotels across Tasmania this year and have another major hotel asset under contract,” JLL's Peter Harper said. “There is no doubt investors are increasingly recognising the outstanding fundamentals of the market and its growth potential.”

Sheridan Randall, 3^rd July 2019