Sunshine Coast hotel sells for $15m
The Best Western Plus Lake Kawana Hotel has sold to Gold Coast-based Centro Group for $15 million.
Co-owned by Sunshine Coast developer Bruce McDiamard and Triple B Motels, the 81-room Best Western hotel in Birtinya opened in 2015 and features restaurant and bar Wildfire and two adjoining function rooms.
Centro Group will add the hotel to its portfolio of BP and Caltex service stations in NSW and Queensland, three Brisbane Quest Apartment Hotels and the Mercure Southport on the Gold Coast, due to open in 2020.
“We are very pleased to add a hotel of this calibre to our portfolio and are also excited to announce that there will be a rebranding of the hotel to an international brand," said Centro director and founder Michael Carr.
The hotel is centrally located, just 20 minutes from Sunshine Coast Airport.
“Unlike most other accommodation stock on the Sunshine Coast, this asset is targeted at the corporate market, which has helped differentiate it from its surrounding competitors,” said CBRE Hotels director Paul Fraser.
Sheridan Randall, 12th September 2019
