The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
AFFORDABLE HOUSING DEVELOPMENT SUMMIT THURSDAY, AUGUST 28, 2025
AFFORDABLE HOUSING SUMMIT THURSDAY, AUGUST 28, 2025
EVENT DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailStaff WriterThu 26 Mar 15

SilverNeedle Sells Brisbane Hotel Retail Asset For $133 Million

N

SilverNeedle Hospitality has sold its hotel and retail mixed-use property in Brisbane’s Queen Street Mall to Challenger Ltd for $133 million, after buying the asset for $57 million less than three years ago.

The completely refurbished hotel and retail asset, located at 72 Queen Street Mall, is the first international launch of the NEXT Hotel brand and the Australian debut of global fashion retailer Forever 21.

Both tenants have 10-year leases.

Queen Street Mall is one of Australia’s busiest pedestrian malls, with over 26 million visitors annually.

Dean Dransfield of Dransfield Hotels & Resorts and JLL’s Head of Retail Investments – Australasia Simon Rooney, together with JLL Hotels, advised on the sale.

Mr Rooney said this type of large and refurbished CBD asset was in high demand in Australia.

“CBD retail markets are going through a transformational phase, welcoming a new wave of international retailers that are expanding into the Australian market," Mr Rooney said.

“Availability of suitable sites has been a barrier to entry for some of these international tenants that typically require larger stores than their domestic counterparts, and are looking to secure flagship retail locations such as this."“We are in the initial stages of a recovery in retail trading conditions and it is fuelling investor confidence in the sector."Director of Dransfield Hotels & Resorts Dean Dransfield, said the property was ideally located to attract buyers.

“With its state-of-the-art technology and design, Brisbane’s NEXT Hotel is in an ideal position to attract business and leisure visitors," Mr Dransfield said.

"The rare sale and leaseback investment was highly sought-after by institutions, international investors and high-net wealth individuals as it provides simplicity, security, scale and upside as market conditions strengthen.”

The landmark hotel and retail property has undergone an approximately $50 million renovation to take advantage of the prime location for business travellers on weekdays and leisure markets after hours and on weekends.

It is located close to key CBD demand drivers including the recently refurbished Brisbane Convention and Exhibition Centre, and several of the city’s upcoming major infrastructure projects.

The property comprises almost 2,000 sqm of prime retail space leased to international retailer Forever 21, and a 304-room, 4.5 star NEXT Hotel with an average room size of approx. 28 sqm.

The hotel component features a large club floor with an outdoor pool overlooking Queen Street Mall; and over 1,300 sqm of food and beverage, recreation and meeting facilities.

This new flagship NEXT Hotel is based on SilverNeedle’s market intelligence, having operated the Chifley Hotel, previously located in the building, for over 15 years.

RetailHotelAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Scape's Gurrowa place artist impression
Exclusive

Red Tape Blocking PBSA Housing Crisis Help, says Sector Pioneer

Leon Della Bosca
5 Min
Rob Stokes on Faith Land Housing Opportunities across australia
Exclusive

Salvation at Hand: Why Ex-MP is Championing Faith-Based Land Development

Renee McKeown
6 Min
Childcare shortfall EDM
Exclusive

Childcare Crunch: $4bn Shortfall Opens Door for Developers

Vanessa Croll
7 Min
Adelaide old and new buildings
Exclusive

In with the Old: Why Building Coalition Says Reuse Must Trump Redevelopment

Leon Della Bosca
7 Min
Victoria Barracks Paddington NSW
Exclusive

Future of Inner-Sydney Megasite Under Investigation

Clare Burnett
4 Min
View All >
Fortis and Otello file shoptop tower plans at 134-144 Hutt Street, Adelaide at the corner of Allen Place.
Residential

Fortis, Otello Reveal $80m Adelaide Apartment Scheme

Renee McKeown
Residential

Landowners Pitch Rezoning of 742ha SEQ Rural Land

Taryn Paris
Scape's Gurrowa place artist impression
Exclusive

Red Tape Blocking PBSA Housing Crisis Help, says Sector Pioneer

Leon Della Bosca
Scape co-founder Craig Carracher says the Government needs to wise up and open the door to what the sector can do...
LATEST
Fortis and Otello file shoptop tower plans at 134-144 Hutt Street, Adelaide at the corner of Allen Place.
Residential

Fortis, Otello Reveal $80m Adelaide Apartment Scheme

Renee McKeown
3 Min
Residential

Landowners Pitch Rezoning of 742ha SEQ Rural Land

Taryn Paris
2 Min
Scape's Gurrowa place artist impression
Exclusive

Red Tape Blocking PBSA Housing Crisis Help, says Sector Pioneer

Leon Della Bosca
5 Min
Coronation Precinct 75
Build-to-Rent

Coronation Seeks BtR Increase for Inner-West Precinct

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/silverneedle-sells-brisbane-hotel-retail-asset-133-million