Target price revealed as Howard Smith Wharves hotel under Story Bridge listed for sale
A hotel just below the Story Bridge is up for sale, and its owner is asking about $45 million more than he paid five years ago.
Crystalbrook Vincent at Howard Smith Wharves has 166 rooms, a rooftop infinity pool, gym and bar.
The hotel was opened in 2019. Nearly 500 works by Brisbane portrait artist Vincent Fantauzzo are housed in an extensive collection on-site.
Ghassan Aboud Group purchased the hotel through Crystalbrook Hotels and Resorts in 2021 for approximately $70 million.
A representative for seller Colliers said a price of about $115 million is currently being sought.
They added that it was sold to “recycle capital” and expand the Crystalbrook business in Australia and New Zealand.
Colliers announced on Tuesday an expressions of interest campaign that runs until April 30.
“This is one of the most significant luxury lifestyle hotel offerings to come to market in many years,” Karen Wales, the company’s hotel manager, said in a statement.
