Approved Port Coogee SDA project offered for sale
A boutique coastal development site within Port Coogee’s marina precinct has been listed for sale.
Case Studies
32-36 Richardson Street, West Perth, Western Australia,
THE RICHARDSON HOTEL
The Richardson Aged Care, a conversion of the former Richardson Hotel, Suites and Spa, was opened in August 2018; the former hotel was completed in late 2006 and ceased operation in December 2017.
The 9-storey aged care centre provides 92 units over eight floors, a restaurant, bar and pool-side entertainment areas on ground floor and community lounge rooms on each level. Prior to redevelopment, the former hotel comprised 58 suites, 16 hotel rooms and a business centre.
| Sale Analysis | |
| Sale Price: | $32,500,000 |
| Sale Date: | December 2017 |
| Rooms: | 92 |
| Land Area: | 2,492sqm* |
| Price/Room: | $353,260/Room |
| Vendor: | Oxley |
| Purchaser: | Catalyst Richardson SPV |
| Sales Process: | The property was sold off-market after the opportunity to convert the hotel into Aged Care was identified |
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