“The hotel has an excellent growth story stemming from the 2032 Brisbane Olympics and its associated infrastructure…underpinned by a quality tenant in Quest,” he added.Įlsewhere in the immediate area, local developer Sarazin recently outlaid $13.25m for a 2673 square metre block at 31-33 Wellington Rd, permit-ready for an 18 storey residential tower with 181 units. “In line with our investment target in Australia, we are delighted to add Quest Woolloongabba to our hotel portfolio in Australia,” Chayadai Karim said. Near The Gabba, it is also configured with conference facilities, a gym and rooftop terrace (pictured, top). The Woolloongabba asset derives 94 per cent of its income from Quest with the balance from four retail tenancies the Weighted Average Lease Expiry is 12 years. The family also established the Student Entrepreneur Centre at the University of North Sumatra.
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