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In Brief - Acacia Hotel has $13.5m price tag

THE four-star Acacia Hotel in Northbridge is being offered for sale through Western Australian-based business brokers Goodwin Mitchell O’Hehir & Associates. The 94-room hotel, located at 15 Robinson Avenue in Northbridge, contains a fully licensed restaurant, al fresco cafe, gymnasium, conference and function venues that can cater for up to 300 people, as well as on-site security parking. Broker Kerry O’Hehir said the sinking of the rail line would encourage the hotel business in Northbridge, and that the hotel was “just a shuttlebus ride and 10-minute walk to the CBD and shopping precinct”, and was located “amidst the food and nightlife of the city of Perth”. “With the Perth property market still showing signs of growth this is an excellent opportunity to purchase a substantial freehold property and cash-flow business in the heart of Perth,” Mr O’Hehir told WA Business News. Industry analysts say Perth’s long-struggling hotel market is at the beginning of an upswing, with increasing occupancy and room rates signalling a change in the market. The CBD hotel market is especially strong, analysts say, with business travel coming off the back of a booming economy, led by the resources industry.

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