Aura Group and Conduit House announce the close of a USD$60 million structured credit investment for the renovation of the iconic Montien Hotel...
Vibe Darling Harbour Sells for $108 Million
The Vibe Hotel Darling Harbour is a 145-room, 4.5-star hotel centrally located in Sydney, which opened its doors for trade late last year.
The Vibe Hotel Darling Harbour has been sold for $108 million in the biggest Australian Hotel deal of the year according to the Australian Financial Review.
The Vibe Hotel Darling Harbour is a 145-room, 4.5-star hotel centrally located in Sydney, which opened its doors for trade late last year. The hotel was developed by the Fund’s partner Icon Oceania. The Aura Property Fund 1 (the Fund) invested as part of a syndicate to acquire, plan and build the hotel in 2016.
The property was sold to Serenity Asset Sussex, a local arm of Sino-Pacific Trading, which is owned by the Savetsomphob family. Sino-Pacific Trading is one of Thailand's leading food import businesses and includes brands such as Ferrero Rocher, Pringles and Lindt.
About Vibe Darling Harbour
The hotel features:
145 modern guest rooms
The Sussex Store restaurant
Heated outdoor swimming pool
Above 319 rooftop bar which captures the city skyline and Darling Harbour views.
The 4.5-star hotel has a multitude of New York-inspired features including curved rainfall showers, retro bathroom fixtures and window day lounges.
The luxurious hotel is centrally located close to Darling Harbour attractions, CBD Light Rail and ICC Sydney as well as being a short 4-minute walk to Town Hall train station. Visitors can enjoy many dining and entertainment venues such as Chinatown's eateries, the Queen Victoria Building and World Square Shopping Centre nearby. Located on Sussex Street, the Hotel was designed by award-winning architecture firm WMK and developed by Sydney's Icon Oceania.
Aura Group Funds have a minimum investment A$500,000 or A$100,000 for wholesale and sophisticated investors as defined by the Corporations Act 2001. Application is via the information memorandum for each fund.
This information is for accredited, qualified, institutional, wholesale or sophisticated investors only and is provided by Aura Capital Pty Ltd AFSL No. 366 230, ABN 48 143 700 887. Aura Capital Pty Ltd is the Trustee of all the Funds mentioned and a subsidiary of Aura Group Pty Ltd.
Any financial product advice given in this report is of a general nature only. The information has been provided without taking into account the investment objectives, financial situation or needs of any particular investor. Therefore, before acting on the information contained in this report you should seek professional advice and consider whether the information is appropriate in light of your objectives, financial situation and needs. Aura does not guarantee the performance of its funds, the repayment of any capital or any rate of return. Investing in any financial product is subject to investment risk including possible loss. Past performance is not a reliable indicator of future performance. Information in this report is based on the information provided to Aura by third parties that may not have been verified. Aura believes that the information is reliable but does not guarantee its accuracy or completeness. Aura is not able to give tax advice and accordingly investors should obtain independent advice from an accountant and/or lawyer before making any decision based on the tax treatment of its investors. You must read the Fund Fact Sheet or Information Memorandum and seek professional advice before making a decision to invest in any of the funds.