By Triana O'Keefe, editor – Australian Hotelier
Jones Lang and LaSalle’s John Musca has been named the selling agent on Liverpool’s Macquarie Hotel to be sold by public tender, closing May 5.
“The Liverpool story is like no other at the moment with the population forecast to double to 320,000 in the next 20 years, and city planning codes allowing 100 metre height limits for commercial and residential tower developments auguring well for city centre hotels like the Macquarie,” Musca said.
The Sydney Metropolitan Strategy released in 2013 identified Liverpool as the states ‘third city’ after Sydney and Parramatta with subsequent papers suggesting the area will require an additional 500,000m² of commercial and retail space to service the LGA growth.
The privately owned Macquarie Hotel has been in the same hands for nearly 30 years and includes 30 gaming machines, much sought after 24-hour liquor licence and dual street frontage 1,062m² site with future development potential (STCA).
“This hotel is on its way to being a Top 50 ranked gaming hotel in the state and is perfectly positioned adjacent to a 440 car-bay Council car park and metres from rapidly developing Macquarie Mall with new Aldi supermarket, close to the train station and sprawling Westfield Liverpool,” Musca said.