Owner Nic Trimboli expects more than $30 million for the Perth property, which was developed by a joint venture that included Adrian Fini.
Perth’s Alex Hotel is on the market, seven years on from when the Little Creatures founders developed the asset.
The hotel, on the corner of William Street and James Street in Perth, is expected to fetch more than $30 million via a three-week expressions of interest campaign.
An entity run by Nic and Rosanne Timboli, The Cicerto Project Pty Ltd, bought the 578 square metre lot for $1.9 million from the state government in 2012, and later developed the boutique-style hotel.
Little Creatures co-founders Howard Cearns, David Martin, Adrian Fini and Miles Hull opened the 74-room hotel in May 2015.
The building includes Shadow Wine Bar and Dining Room, as well as a rooftop bar.
JLL Hotels & Hospitality’s Andrew Langsford, Gus Moors and Nick Roche are marketing the property.
The real estate group said Perth’s market had reached the end of its hotel construction cycle, with several barriers to new supply.
Recent research from global data group STR showed that Perth’s revenue per available room has increased by 34 per cent in the past 12 months, and by 29 per cent since 2019.
The hotel is being offered with vacant possession of management, which means the buyer can opt to continue the Alex brand or not.
It adds to a host of Perth CBD hotels on the market, including the Ritz Carlton and Adina Hotel.