Carpe Diem Partners has acquired the 42-room UME Potts Point hotel in Sydney’s inner east.
Situated on Elizabeth Bay Road, the six-level boutique hotel features a rooftop with harbour views and joins a collection of upscale holdings now exceeding 500 keys nationally.
“Carpe Diem have invested in various leisure and corporate accommodation assets in major regional areas across three states for our wholesale investors.
“The addition of this Elizabeth Bay property gains our first exposure to the prime Sydney market and branches us into the co-living space.”
Simon Wheatley, a Founding Partner, Carpe Diem Partners
The deal marks the investment group’s first entry into the Sydney market and its expansion into the co-living sector.
The property was sold by HTL Property and Ray White Commercial (SC) following a public campaign that generated 104 enquiries and multiple offers.
“We’re delighted by the strong outcome our strategic marketing campaign garnered for our valued client, and confident the Carpe Diem Partners team will enjoy sustained success in such a prosperous location.”
Andrew Jackson, National Accommodation Director, HTL Property
The deal follows HTL Property’s recent sales of UKO Paddington, Motel Molly in Mollymook, and Sky Suites in the Sydney CBD.
“An amalgam of downward pressure on interest rates, comparatively stable geopolitics regionally, a modest Australian dollar value and the Federal Government’s concerted focus on growing in-bound tourism; has seen a deliberate uptick in both investor confidence and appetite for high replacement cost tourism assets.”
Andrew Jolliffe, Managing Director, HTL Property
HTL Property cited a combination of factors driving investor appetite in the current market, including anticipated interest rate reductions, regional geopolitical stability, a ‘modest’ Australian dollar and the Federal Government’s focus on inbound tourism.
