05 Nov 2025
Words The Hotel Conversation

Quest Sale freehold investment sold — ResortBrokers

ResortBrokers’ East Victoria agent Chris Boschetti has sold the freehold passive investment in Quest Sale, Gippsland.

Sold at an 8.5% yield, the property was acquired by an experienced accommodation owner who has a freehold going concern in regional New South Wales. The buyer was seeking a high-quality, passive investment to complement their portfolio.

Opened in 2007, Quest Sale comprises 35 apartments, opening to 53 keys, and was offered to market with a price guide of $10.5 million.

 The vendor, a prominent owner of large-scale regional accommodation assets, developed the property and brought it to market for the first time after 18 years of ownership.

“This was a rare opportunity to acquire a premium freehold passive investment backed by Australia’s leading apartment hotel brand, in Victoria’s high-growth Gippsland region,” Mr Boschetti told The Hotel Conversation.

“We priced the asset at the highest end of what we considered defendable based on market data and were able to achieve a sale price very near asking price in line with our vendor’s expectations.”

The freehold passive investment was offered to market with the security of a Quest franchisee tenant in place until at least July 2027, with four further five-year renewal options potentially extending the lease to 2047.

Mr Boschetti says demand for Quest properties, both freehold and leasehold, is the strongest it has ever been. For Quest Sale, he fielded over 60 enquiries, generating eight inspections and three offers.

ResortBrokers has been Quest Apartment Hotel’s preferred agent nationwide for over a decade. END