The Adelphi Hotel on Flinders Lane has sold for the second time in 18 months after being acquired by Melbourne based hotel investor Mazen Tabet in a deal worth a reported $19 million.
The transaction was negotiated by JLL Hotels & Hospitality’s Nick MacFie and Peter Harper and Savills Hotels Nick Lower and Benson Zhou.
Located at 187 Flinders Lane in the highly sought after “Paris End” of the CBD, Adelphi Hotel features 34 guest rooms & suites, rooftop pool and events venue, cocktail bar and boardroom. Vacant possession of hotel management was offered as part of the sale. Mr Tabet also owns The Royce Hotel on St Kilda Road and The Lyall Hotel in South Yarra.
The property was sold via administrators BRI Ferrier on behalf of Bond Finance after being placed on the market by previous owner, Virtical.
Nick MacFie, Senior Vice President – Investment Sales said, “Having sold the asset last year and received 13 offers, we knew the campaign would garner considerable interest and this was proven from our marketing campaign which saw more than 140 enquiries and a dozen inspections.”