Diversified property group Thakral has sold its Novotel Atrium Hotel in Darwin for $13 million.
Unlisted Tourism & Asset Holdings is the purchaser. TAH is associated with Babcock & Brown.
The sale of the Novotel Darwin forms part of the group’s strategy to trade hotels when appropriate opportunities arise in the marketplace, says Thakral managing director, John Hudson.
The sale represents a book profit of $1.6 million.
“While the turnover of hotel properties, both buying and selling, remains part of our ongoing strategy, we intend maintaining investment in hotel properties at the current levels,” Hudson added.
Thakral is now expecting half year profits to be 35% ahead of the corresponding period last year.
Thakral has been succeeded in diversifying its portfolio to include hotel, residential and commercial properties.
