Travelodge Resort Darwin up for sale, presenting redevelopment opportunities for student housing

Savills Australia and New Zealand, in collaboration with Knight Frank, have brought the Travelodge Resort Darwin to the market, offering a unique opportunity to purchase a freehold hotel with vacant possession and the potential to repurpose the asset for student accommodation or other short-term living solutions.

Located at 64 Cavenagh Street in Darwin City, the property features 224 rooms, including 32 townhouses, and a range of resort amenities such as five swimming pools, Treetops Restaurant, conference and events facilities, a gymnasium, a sun deck, and a BBQ area, along with 115 car parking spaces. The hotel has recently undergone a refurbishment of its accommodation.

Mark Durran, Managing Director of Hotel Capital Markets at Savills Australia and New Zealand, highlighted the property’s unique resort-style offering in the centre of Darwin and its advantageous zoning, which allows for near-term student accommodation use and longer-term redevelopment opportunities.

Paul Savitz, Director of Operational Capital Markets at Savills Australia and New Zealand, emphasized the undersupplied student accommodation market in Darwin, with the highest student per PBSA bed ratio in the country at 33 students to each bed. With Charles Darwin University and the Northern Territory Government aiming to grow international student numbers to 10,000 by 2030, the need for student accommodation is expected to increase significantly.

The hotel’s location, directly opposite the new $250m CDU City Campus, makes it an ideal candidate for conversion to student accommodation with minimal modifications, allowing it to welcome students in time for the campus opening in the third semester of this year.

Peter McVann, Partner at Knight Frank Darwin, noted that increased state and federal government spending in Darwin is expected to drive economic and cultural growth in the area, attracting more domestic and international visitors and students.

The Travelodge Resort Darwin is being offered for sale by Expressions of Interest, closing on July 25th at 1 pm.