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Serene Selling Melbourne Ibis

Fund manager Serene Capital has put the 235-room Ibis Swanston Street up for sale

Key points:

  • 235-room Ibis Swanston Street hotel in Melbourne's CBD

  • Serene bought the hotel for c. $52m

  • Seeking $70m with potential conversion to student accom

Fund manager Serene Capital is looking to sell the 235-key Ibis Swanston Street hotel in Melbourne's CBD.

Serene paid $52m for the then Tune budget hotel and is now seeking $70m for the hotel.

The hotel could potentially be converted into student accommodation.

Serene Capital's portfolio includes Mercure Penrith, Sage Wollongong, Ibis Budget Perth Airport, Tryp Brisbane and Quest Penrith.