A 4.5-star apartment hotel on the edge of Darwin’s city centre, the Ramada Suites by Wyndham Zen Quarter Darwin, is being offered to market with the property providing a unique opportunity to acquire a hospitality asset with a diversified client and revenue base, ensuring continued and varied income streams for a new owner.
The hotel, located at 6 Carey Street, Darwin City, includes Zen Quarter Management, which controls the management letting rights (MLR) of 218 one and two-bedroom apartments, ensuring steady income streams until August 2039.
Freehold strata ownership of 51 one and two-bedroom apartments (54 keys) is included, providing secure tenure of a significant portion of the property. Additionally, the property contains two commercial strata lots used in the hotel and food & beverage operation, adding another layer of revenue generation and earnings upside.
Horizen Café, located on Level 3, operates from early morning, providing light meals and refreshments for guests, enhancing their stay experience, while The Rooftop Lounge, situated on Level 16, offers stunning views, a relaxed atmosphere, and the perfect setting for guests to unwind. It is a prime venue for events and gatherings with a 100-patron capacity.
Max Cooper, Director of Hotels at Savills Australia and New Zealand highlights the investment potential of the property.
“Ramada Suites by Wyndham Zen Quarter Darwin stands out as an exceptional investment opportunity. The property is currently rated as Darwin’s leading hotel by TripAdvisor and offers both management and ownership of apartments in a modern hotel complex that continues to trade strongly and generate strong and diverse cash flows,” Mr Cooper said.