Attachments
10 Jun 2020
The Westin Margaret River Resort & Spa is a joint development between Saracen Properties and Security Capital Australia, two of Western Australia's leading property developers and investors. CBRE Hotels and KWM acted as joint exclusive advisor to negotiate the Hotel Management Agreement with operator, Marriott International.
Located on the southern headland of Gnarabup Beach, the luxurious resort has been designed by architects, Christou Design Group. The low impact design will complement the iconic coastal location, which is renowned for its uninterrupted views over the Indian Ocean.
The earmarked site has direct access to the famous Cape to Cape walking trail, nearby national forests, ancient caves and world-class surf breaks. The resort will be positioned in the heart of the famous wine region, just 10km from the Margaret River town centre and in proximity to award-winning wineries, a thriving arts community and premium food produce.
CBRE's Head of Capital Markets for Western Australia, Aaron Desange said the announcement was particularly welcomed in the current climate.
“The Westin Margaret River Resort & Spa will be a major drawcard for the South West region and will further boost Margaret River's presence on the international stage. More than 15 regional and international operators bid for this opportunity, which underlines the scarcity of five-star resort development opportunities in thriving regional Australian leisure markets,” he said
“Importantly, this announcement will increase the region's luxury tourism appeal, which will help contribute to injecting much-needed revenue back into our state after particularly challenging economic times.”
Carl Black, Partner and Head of Real Estate for KWM in WA, commented: “This deal was successfully negotiated during a particularly difficult and unusual period for the hotel industry. We believe it will result in a fabulous addition to the hospitality landscape in WA, which was made possible by all parties involved having the capacity to see past the present and into a promising future for high quality hotel product.”
Scheduled to open in 2023, the Westin Margaret River Resort & Spa, is expected to feature 120 guestrooms, three on-site dining venues, 400sqm of meeting space, extensive leisure facilities, including a resort-style outdoor swimming pool, and day spa.
Located on the southern headland of Gnarabup Beach, the luxurious resort has been designed by architects, Christou Design Group. The low impact design will complement the iconic coastal location, which is renowned for its uninterrupted views over the Indian Ocean.
The earmarked site has direct access to the famous Cape to Cape walking trail, nearby national forests, ancient caves and world-class surf breaks. The resort will be positioned in the heart of the famous wine region, just 10km from the Margaret River town centre and in proximity to award-winning wineries, a thriving arts community and premium food produce.
CBRE's Head of Capital Markets for Western Australia, Aaron Desange said the announcement was particularly welcomed in the current climate.
“The Westin Margaret River Resort & Spa will be a major drawcard for the South West region and will further boost Margaret River's presence on the international stage. More than 15 regional and international operators bid for this opportunity, which underlines the scarcity of five-star resort development opportunities in thriving regional Australian leisure markets,” he said
“Importantly, this announcement will increase the region's luxury tourism appeal, which will help contribute to injecting much-needed revenue back into our state after particularly challenging economic times.”
Carl Black, Partner and Head of Real Estate for KWM in WA, commented: “This deal was successfully negotiated during a particularly difficult and unusual period for the hotel industry. We believe it will result in a fabulous addition to the hospitality landscape in WA, which was made possible by all parties involved having the capacity to see past the present and into a promising future for high quality hotel product.”
Scheduled to open in 2023, the Westin Margaret River Resort & Spa, is expected to feature 120 guestrooms, three on-site dining venues, 400sqm of meeting space, extensive leisure facilities, including a resort-style outdoor swimming pool, and day spa.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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