Over 2,000sqm of prime city centre real estate has been unlocked after the Perth City YHA has been put on the market.
The heritage-listed art deco building, at 300 Wellington Street, was built in the 1940s as an emergency services headquarters but was transformed into a popular CBD hostel in 2006.
Listed for sale via an expressions of interest campaign with CBRE’s Aaron Desange and Ryan McGinnity, the four-storey building is ideally located and an exceptional investment opportunity for a buyer who dreams big.
Mr Desange said: “The hostel has an enviable position in Perth’s CBD, which will underpin buyer interest – being close to public transport links, small bars and restaurants as well as Perth Arena and only a short train journey to Optus Stadium.”
An incoming owner will be well-placed to benefit from the hostel’s central location, modern design and strong support from domestic and international travellers over the coming years.Aaron Desange – CBRE
Despite the fact that the ban on overseas arrivals has seen the tourism industry in Perth and the rest of Australia suffer, CBRE’s Mr McGinnity is confident that once international travel is back on the cards, Perth will see an influx of tourists once again.
“Prior to the onset of COVID-19, Australia experienced over one million backpackers in 2019 with strong growth levels of around 6.5% per annum,” he said.
“While no one expects life to return to normal immediately, we do expect foreign and domestic travellers to return to Perth once borders reopen,” Mr McGinnity explained.
Situated at the northern end of Perth’s CBD, the hostel comprises 240 beds across 70 rooms with features such as a gymnasium and swimming pool making it such a hit with backpackers and travellers.
300 Wellington Street Perth WA 6000