City Developments Limited (CDL), through its wholly-owned hotel subsidiary Millennium & Copthorne Hotels Limited (M&C) and in a 50:50 Joint Venture (JV) with its New Zealand-listed subsidiary Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK), has entered into a Purchase Sale Agreement and Business Asset Sale Agreement on 22 March 2023 to acquire the Sofitel Brisbane Central hotel in Australia from Brookfield Asset Management at a purchase price of A$177.7 million (approximately S$159.2 million), or A$427,000 (approximately S$383,000) per key.

Located in the heart of Brisbane’s vibrant Central Business District (CBD), the 5-star luxury hotel is directly linked to the Central Station, a major transportation hub, and offers unparalleled connectivity to the city’s commercial and retail areas, the Brisbane Airport, Brisbane Entertainment Centre, Gold Coast and rest of Queensland. The hotel is also within walking distance of the city’s key attractions such as the Queen Street Mall, Eagle Street Pier beside the Brisbane River, South Bank Parklands and the Convention Centre.

Comprising 416 rooms and suites, the landmark hotel boasts exceptional views overlooking the iconic ANZAC Square, the city’s exquisite skyline, and the famed Sunshine Coast. The 30-storey hotel is home to the city’s largest hotel event and meeting facility with nine meeting and conference rooms that can accommodate up to 1,100 people.

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