MACq 01 Hotel on Hunter St on Hobart’s waterfront has been sold by the Vos Group for an undisclosed sum
THE Federal Group now has a further stake in the hotel it runs on Hobart’s waterfront, with the Farrell family part of a consortium that has purchased MACq 01.
The 4.5-star luxury hotel, which is leased to the Federal Group, was put on the market by owners the Vos Group in February 2018 for about $60 million.
MACQ 01 HOTEL TO BE PUT UP FOR SALE
VOS GROUP EXPECTING WIDE INTEREST IN MACQ 01 SITE
A group called 18 Hunter Street has bought the property for an undisclosed sum.
The group includes Federal Group owners the Farrells, the Newton family, which includes Knight Frank partner Scott Newton, the Rockefeller family, which includes Hobart property mogul Robert Rockefeller, with the fourth partner believed to be investment banker Greg Woolley.
A statement announcing the sale said the sale price would not be made public.
Vos Family representative Michael Vos said the Vos family was proud of the property which had reinvigorated the area around Hunter St.
“It is now time for us to hand over the reins to a group that will continue to develop its potential,” Mr Vos said.
18 Hunter Street Pty Ltd spokesman Scott Newton said the group comprised Tasmanian investors who believed in the future potential of the MACq 01 precinct as well as the wider
Tasmanian tourism and hospitality industry.
Federal Group will take on the head lease for the entire complex.
Federal Group managing director and CEO Greg Farrell: “Everything about MACq 01 Hotel is in tune with the Tasmanian brand, it has been designed to celebrate our stories and in so doing we have created an authentic visitor experience that is also embraced by Tasmanians.
“As the operator of MACq 01 Hotel, Old Wharf Restaurant, and two unique bars, we look forward to working with the existing tenants and welcoming new, vibrant tenants to the precinct to complement the existing operations in coming months.”
Federal Group also owns the nearby Henry Jones Art Hotel.