Baker McKenize is acting for Singapore-based property developer Hoi Hup Realty Pte Ltd in completing the acquisition of the Four Points by Sheraton Sydney, Central Park for AUD 201.8 million, marking the group's first investment in the Australian property market and one of the largest hotel transactions completed in Australia this year.
The 18-storey institutional-grade hotel comprises 309 guest rooms, including 45 suites, together with a recently renovated bar and restaurant, fitness centre, 44 dedicated car parking spaces and 270 square metres of conference and meeting facilities. The hotel forms part of the AUD 2 billion Central Park mixed-use precinct and is strategically positioned within Sydney's rapidly expanding Innovation and Technology Precinct.
The Firm acted for Hoi Hup Realty on all aspects of the transaction, supporting the company from its entry into the Australian market through to completion. The multidisciplinary engagement included advising on acquisition structuring, negotiation of the property and business sale arrangements, taxation and stamp duty matters, financing, employment considerations and liquor licensing requirements.
Baker McKenzie’s lead Partner Dora Stilianos said the transaction highlighted the continued appeal of Australia to sophisticated offshore investors seeking exposure to high-quality real estate assets.
"This acquisition represents a significant milestone for Hoi Hup Realty as it enters the Australian market and secures a premium hotel asset in one of Sydney's most dynamic urban precincts.
The transaction involved a range of complex commercial, tax, finance and operational considerations, and we were delighted to support Hoi Hup Realty throughout the process. The successful outcome reflects the strength of collaboration between our teams and the confidence international investors continue to place in Australia's hospitality and real estate sectors."
Dora was assisted by a core Baker McKenzie team comprising Sebastian Busa, Rebecca Tan, Roy Melick, Leo Vellis, Lisa Mazor, Miles Hurst and Yen Bui.
The acquisition underscores continuing international investor interest in Australia's hotel market, with Sydney CBD and Tech Central precinct being a key destination for offshore capital seeking high-quality hospitality assets. According to market commentary reported by The Australian Financial Review, the transaction is among the most significant hotel deals completed in Sydney this year and reflects strong confidence in the city's hotel sector and long-term growth prospects.
The hotel, managed by Marriott International, opened in 2018 and occupies a prominent position within the Tech Central precinct, one of Australia's leading innovation and technology hubs.