4-star Quest Hotel in Queensland’s fastest growing region expected to fetch $16M

International expressions of interest for freehold interest in Quest Ipswich

A rare premium 4-star hotel investment in Queensland’s fastest growing region of Ipswich has hit the market with huge demand expected for the fully leased asset.

Being offered for sale through an exclusive Expression of Interest campaign by the Colliers team of Neil Scanlan and Sam Abel on behalf of an interstate investor, the 4,556 sqm property is located at 57-63 Warwick Road, Ipswich.

Opened in 2008, and anchored by a robust, long-term lease to a Quest franchisee, with options extending until 2054, the property benefits from strong brand recognition and customer loyalty.

Colliers National Director of Hotels Neil Scanlan said this was a rare opportunity to secure a premium investment in a thriving location, backed by the stability and reputation of the Quest brand.

“Operated under the Quest brand, the largest and fastest growing serviced apartment hotel chain, the property benefits from strong brand recognition and customer loyalty. It is ranked 2nd out of 9 hotels in Ipswich on TripAdvisor,” Neil Scanlan said.

“The Australian hotel sector has seen a remarkable comeback, the current investment market is seeking fully leased assets that are underwritten with strong corporate covenants. With the expected interest rate cuts, this refurbished asset will be highly sought after with guaranteed rental increase over the coming years.”

Colliers Hotels Executive Sam Abel said Ipswich was the fastest growing city in Queensland, boasting a population of 233,302, projected to more than double over the next two decades.

“The city’s economy is robust, with a GDP of $13.73 billion and a visitor economy valued at $371.7 million. In the past year, Ipswich welcomed 1.28 million visitors, contributing to a 45 per cent increase in visitor night and generating a total visitor expenditure of $183 million.

“Brisbane is the only market in Australia where occupancy rates are trending higher than pre-COVID 2019 levels, making this investment even more appealing to investors,” Sam Abel added.

There are a wide range of excellent facilities at the Quest Ipswich including a swimming pool, BBQ facilities, meeting and conference spaces and ample onsite parking.

Quest Ipswich boasts 64 keys across a mix of studio, one and two bedroom apartments.

It is located just 1.5 km from the Ipswich CBD and approximately 40 kilometres west of Brisbane’s central business district. This prime location offers excellent connectivity to major hubs such as the Gold Coast, Toowoomba, Brisbane, and the Sunshine Coast.

Quest has emerged to become the largest and most successful apartment hotels brand in Australasia. Quest Apartment Hotels have over 160 properties in Australia, New Zealand and Fiji.

The property is being exclusively offered for sale by an Expressions of Interest campaign closing on Wednesday, 30th October, unless sold prior.