Invictus Developments Targets $500 Million Investment In Australia
Singapore-based Invictus Developments is targeting $500 million worth of investments in hotels primarily across the East Coast of Australia, following its first acquisition of the iconic 5-star boutique hotel, Harbour Rocks Hotel, in Sydney.
The 59-room Harbour Rocks Hotel is managed by MGallery by Sofitel (part of the Accor Group) and located at Harrington Street in the Rocks, with its history dating back to 1887 when it was first used as Evans Stores.
Sydney-based property investment management group, Intergen Property Group, advised Invictus Developments on the acquisition and investment management of the hotel.
Mr Chayadi Karim, principal of Invictus Developments, "Harbour Rocks Hotel marks our first acquisition outside of Singapore. We are committed to further investment across Australia's Eastern Seaboard in the coming years, which is recovering strongly from the pandemic with both local and international tourism. "Focusing on hospitality investments in key gateway markets across Asia Pacific, we aspire to build and value-add to a portfolio of boutique and upper upscale hotels in Singapore, Indonesia, Australia and Japan. "We are excited to unveil in due time our plans for the Harbour Rocks Hotel, which includes upgrades to the buildings and enhancements in the hotel's facilities, such as their food and beverage offerings", he added.
The Harbour Rocks Hotel sales campaign was conducted by JLL.
Mr Mark Durran, JLL's Managing director, Investment Sales, Hotels & Hospitality Australia, said "We are seeing a resurgence in hotel activity across Australian capital cities as international and interstate travel returns, with Sydney leading the way".
The Harbour Rocks Hotel's location is very attractive to travellers as it is close to the Overseas Passenger Terminal, Opera House and Museum of Contemporary Art, as well as transport links to the rest of the city.
