October 6, 2025

Australia-based fund management company, Serene Capital, has acquired the 82-key Quest Springfield Central in Queensland, Australia from UK-based real estate investment manager, 90 North Real Estate Partners LLP, (“90 North”) and Saudi Arabia-based investment firm, Sidra Capital, for AUD26.7 million, reflecting AUD325,600K per key and a yield of approximately 7.65%. 90 North and Sidra Capital has acquired the building for AUD24.3 million from Australia-based Springfield City Group Pty Limited in 2018. Completed in 2018, the modern 4-star apartment hotel sits on a 2,795 square metres (“sqm”) site with a gross floor area of 6,633sqm across six levels. The hotel features three commercial tenancies, conference facilities, a gym and a laundrette. The asset is underpinned by a long-term lease with Australia-based Quest Serviced Apartments Pty Ltd extending to 2043, incorporating fixed annual rental increases. Situated within Springfield’s commercial and health precinct, the property is appr...

Australia-based fund management company, Serene Capital, has acquired the 82-key Quest Springfield Central in Queensland, Australia from UK-based real estate investment manager, 90 North Real Estate Partners LLP, (“90 North”) and Saudi Arabia-based investment firm, Sidra Capital, for AUD26.7 million, reflecting AUD325,600K per key and a yield of approximately 7.65%. 90 North and Sidra Capital has acquired the building for AUD24.3 million from Australia-based Springfield City Group Pty Limited in 2018. Completed in 2018, the modern 4-star apartment hotel sits on a 2,795 square metres (“sqm”) site with a gross floor area of 6,633sqm across six levels. The hotel features three commercial tenancies, conference facilities, a gym and a laundrette. The asset is underpinned by a long-term lease with Australia-based Quest Serviced Apartments Pty Ltd extending to 2043, incorporating fixed annual rental increases. Situated within Springfield’s commercial and health precinct, the property is appr...

Australia-based fund management company, Serene Capital, has acquired the 82-key Quest Springfield Central in Queensland, Australia from UK-based real estate investment manager, 90 North Real Estate Partners LLP, (“90 North”) and Saudi Arabia-based investment firm, Sidra Capital, for AUD26.7 million, reflecting AUD325,600K per key and a yield of approximately 7.65%. 90 North and Sidra Capital has acquired the building for AUD24.3 million from Australia-based Springfield City Group Pty Limited in 2018. Completed in 2018, the modern 4-star apartment hotel sits on a 2,795 square metres (“sqm”) site with a gross floor area of 6,633sqm across six levels. The hotel features three commercial tenancies, conference facilities, a gym and a laundrette. The asset is underpinned by a long-term lease with Australia-based Quest Serviced Apartments Pty Ltd extending to 2043, incorporating fixed annual rental increases. Situated within Springfield’s commercial and health precinct, the property is appr...