A private Sydney based investor has acquired the Quest Apartment Hotel in Ipswich for $14.2 million, in a deal brokered by Burgess Rawson from CBRE in conjunction with HTL Property.
Located at 57–63 Warwick Road, the premier four-star hotel is a leading accommodation provider within the Ipswich region, featuring 64 keys across 32 serviced apartments. The property recently underwent a $1.2 million refurbishment, completed in 2025, which included modern upgrades to bathrooms and kitchens throughout, providing the incoming owner with substantial depreciation benefits.
Set on a prominent 4,556-square-metre landholding, the property enjoys excellent exposure to more than 11,800 vehicles daily and is strategically positioned near key local demand drivers including Ipswich CBD, major hospitals, the University of Southern Queensland, and RAAF Base Amberley. This connectivity ensures a consistent flow of both business and leisure travellers.
Justin Kramersh from Burgess Rawson from CBRE said the result reinforces the strong investor appetite for quality hotel assets underpinned by robust tourism demand.
“Ipswich is experiencing a transformational period of growth,” Mr Kramersh said.
“With the population set to more than double to 533,800 by 2046, driven by its role as an official co-host for the 2032 Olympic Games, the city is creating significant opportunities for investors.”
Neville Smith from Burgess Rawson from CBRE added that the campaign attracted robust interest from both domestic and offshore buyers.
“The combination of a well-presented asset, a recent refurbishment program and Ipswich’s growth outlook created a compelling investment proposition,” Mr Smith said.
HTL Property’s Nic Simarro added “Ipswich continues to be one of South East Queensland’s strongest growth corridors, underpinned by major infrastructure investment and a diversifying local economy. The continued demand from investors reflects strong confidence in the area’s long-term potential and sustained accommodation needs.”
“South East Queensland has firmly established itself as one of Australia’s most competitive property markets, rivalling Sydney for investment appeal,” Scott Callow of HTL Property concluded.
Quest Apartment Hotels is Australasia’s largest and fastest-growing apartment hotel brand, operating more than 170 locations across key markets. The brand’s established national network continues to attract investor attention and traveller loyalty alike.
Backed by a $15.1 billion economy and a strong pipeline of public and private investment, the region’s outlook remains buoyant. The lead-up to the 2032 Olympic Games is also expected to further boost tourism and accommodation demand across South East Queensland.
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