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News release


Quest serviced apartments in Brisbane’s north to be offered for sale

JLL exclusively retained to offer for sale Quest Chermside

JLL's Hotels & Hospitality Group has been exclusively retained to offer for sale Quest Chermside, located in Brisbane's northern economic and employment hub.

The 4.5-star, 54 key, serviced apartment hotel is located 150 metres from Westfield Chermside, Queensland's largest shopping Centre with over 106,000sqm of retail and 19,000sqm of office space.

Andrew Langsford, Associate - Investment Sales, JLL Hotels & Hospitality Group said, "Quest Chermside is ideally positioned in the commercial and retail centre of North Brisbane. With good access to public transport, key hospitals such as Prince Charles Hospital, and enhanced connectivity to the airport and Brisbane CBD via Airport link, we expect strong interest in the asset."

Chermside has been designated a 'Principal Regional Activity Centre" in the South East Queensland Regional Plan 2009-2013. An area of citywide and regional significance, Chermside will need to accommodate substantial residential and employment growth over the next 20 years. The area is poised for strong growth into the future with the population set to double by 2036.

"The hotel offers a sought after opportunity to secure a quality long-term lease to one of the nation's largest and most recognised serviced apartment operators, fixed rental increases and the potential for future subdivision." commented Mark Durran, Managing Director – Investment Sales. "Based on recent experience we believe the investment will appeal to a broad range of domestic and offshore investors." Mr Durran concluded.

Expressions of Interest for Quest Chermside close midday (AEST) Wednesday, 1 October 2014.

For further information please contact Mark Durran (02 9220 8793 or 0412 248 243/ or Andrew Langsford (02 9220 8705 or 0422 577 415/