In Brief: HVS reports on key hotel sales and investment activity across Asia Pacific for the week ending 3 April 2026
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Centara Grand Hotel Osaka – Image Credit Centara Hotels
Nomura Acquires Centara Grand Hotel Osaka for JPY38.5 Billion in Japan
Japan-based Nomura Real Asset Investment Co., Ltd.(“Nomura”), together with Nomura Holdings, Inc. and Nomura Real Estate Holdings, Inc., has established a private real estate fund to acquire the leasehold 515-key Centara Grand Hotel Osaka through Osaka Namba Investors GK from Centara Osaka Tokutei Mokutei Kaisha, a joint venture of Thailand-based Central Plaza Hotel Public Company Limited for JPY38.5 billion. This translates to approximately JPY74.8 million per key. Opened in 2023, the hotel is located in Namba and comprises 34 storeys above ground plus one penthouse level, with approximately 39,131 square metres (“sqm”) of total floor area. The property also features facilities including eight food and beverage outlets, a club lounge, fitness centre, spa, and six meeting and events spaces. Following completion, Nomura will manage the asset and work with the hotel operator to enhance profitability while maintaining brand value and service quality.
Hulic Divests Hulic Minatomirai Mixed-Use Asset in Yokohama, Japan
Japan-based Hulic Co., Ltd. (“Hulic”) has announced the disposal of Hulic Minatomirai, a mixed-use development comprising hotel, retail, and office components, to a domestic special purpose company in which it retains a minority interest. While the transaction price has not been disclosed, it is reported to exceed 10% of Hulic’s consolidated net sales for FY2025, which totalled JPY727.447 billion. Completed in 2010, the property is situated on a 10,840sqm site and comprises approximately 102,320sqm of gross floor area across 24 above-ground floors and one basement level. The hotel component, Hotel New Otani Inn Yokohama Premium, comprises 240 keys across levels 10 to 19, with reception and restaurant facilities located on level three, alongside meeting and conference spaces. The retail component, Colette Mare Shopping Town, spans levels B1 to 7, while office space is distributed across levels 10 to 17. Located in Yokohama Prefecture, the asset benefits from strong connectivity, positioned approximately a one-minute walk from Sakuragicho Station on the JR Negishi Line.
Deltine Capital Expands with the AUD19.5 Million Ipswich Motel Acquisition in Queensland, Australia
Australia-based commercial property investment manager, Deltine Capital Pty Ltd (“Deltine Capital”), has acquired the 44-key Country Motel Ipswich in Queensland for AUD19.5 million, or approximately AUD443,200 per key, on behalf of its High Yield Motel Fund. The transaction is reported to set a record price for a traditional non-coastal motel in Australia. The freehold asset is located at 250 South Station Road, Raceview, within one of Queensland’s fastest-growing urban corridors, and sits on a 16,000sqm site. Facilities include a food and beverage outlet, outdoor swimming and wading pools, barbecue areas, coin-operated laundry, and parking. The property also holds approvals for the development of an additional nine apartments, providing future expansion potential. The fund has approximately AUD50 million in assets and is targeting an average annual income yield of 12.4% with a total return of 24.4% over a five-year horizon.
The Assembly Place to Redevelop Lian Huat Building into a 152-Key Hotel in Singapore
Singapore-based co-living operator, The Assembly Place Holdings Ltd (“TAP”) plans to redevelop Lian Huat Building with a total gross floor area of approximately 3,606sqm of gross floor area into a 152-key hotel in Singapore. The freehold 11-storey commercial building at 163 Tras Street was acquired for SGD90 million through 163 TS Pte Ltd, a joint venture in which TAP holds a 10% stake in July 2025. Singapore’s Urban Redevelopment Authority (“URA”) has granted provisional permission for a change of use from commercial to hotel, including associated additions and alterations. Renovation works are expected to commence upon receipt of final approvals. The acquisition marks a further addition to TAP’s portfolio and is in line with its co-investment strategy to expand its presence in Singapore’s hospitality and flexible-living sector.
Waldorf Astoria Jakarta Secures Investment from ADFD, Indonesia
Indonesia-based real estate developer, PT Putragaya Wahana (“PGW”), has secured investment from an affiliate of the Abu Dhabi Fund for Development (“ADFD”) for the development of Waldorf Astoria Jakarta within the Thamrin Nine mixed-use complex in Jakarta, Indonesia. The 183-key luxury hotel will occupy the upper floors of the Autograph Tower, part of the Thamrin Nine development comprising office, hotel, serviced residence, and lifestyle components. The development will also feature Indonesia’s highest observation deck. The hotel is scheduled to open in 2027, marking the debut of US-based Hilton Worldwide’s Waldorf Astoria brand in Indonesia, alongside the upcoming 139-key Waldorf Astoria Bali, which is also expected to open in the same year.
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