01 Nov 2023
Words John Miller The Hotel Conversation

Quest Palmerston freehold for sale with ResortBrokers for $20M

The freehold of the 4-star Quest Palmerston for sale through ResortBrokers for $20 million via a private treaty campaign.

The hotel is the only Quest property in Darwin and is located in the satellite city of Palmerston, 20 kilometres southeast of the CBD on the Stuart Highway. The 84-key hotel offers an array of apartments, ranging from studios to three bedrooms, as well as a conference centre accommodating up to 80 delegates for corporate trade.

The freehold of Quest Palmerston is being offered for sale with the security of a blue-chip tenant in place in the form of Quest itself until December 2029 with three further five-year options to renew.

“We’re expecting a huge amount of interest for Quest Palmerston,” says Northern Territory Broker Kelli Crouch who is handling the sale in conjunction with Managing Director Trudy Crooks.

“As far as passive hotel investments go, you don’t get better than this. Yearly rent is over $1.5 million, and Quest is the tenant. This is a rock-solid freehold passive in Australia’s gateway to the Top End and Asia.”

ResortBrokers has been Quest Apartment Hotel’s preferred agent nationwide for over a decade. Earlier this year, the nationwide agency was engaged to sell the passive freehold of the 85-apartment Quest Townsville on Eyre, the only Quest-branded property in Townsville.

“We’re passionate about the Quest brand,” says ResortBrokers Managing Director Trudy Crooks. “ResortBrokers has had great success selling Quest because we understand the brand, which is the benefit of being immersed in it for over a decade. Quest is the most successful apartment hotel brand in Australia. Operators are keen to buy into because it is so successful.”

View listing here.

Kelli Crouch
Broker, Northern Territory & South Australia
kelli@resortbrokers.com.au
0410 441 750

Trudy Crooks
Managing Director
trudy@resortbrokers.com.au
0477 882 210