Capital Markets ANZ Novotel Glen Waverley, VIC Transaction Analysis Sale of Melbourne’s largest for the Novotel Glen Waverley. internationally branded hotel Ultimately, we were successfully east of the CBD. appointed due to our track record and our understanding of how the expiration of the lease creates 1. Situation - Mid 2016: reversionary upside. The syndicate of owners for this property had held the asset under a triple-net lease for the past 20 2. Process years. When the incumbent operator Through the collaboration between indicated they would not extend our Melbourne, Sydney and Brisbane the lease at the end of its expiry in offices, we ran an on-market June 2018, the owners elected to campaign that delivered strong sell the asset through an on-market interest from a wide range of investor campaign. profiles. This enabled us to generate Colliers had pitched to the ownership strong bids at the Expression of group for previous opportunities, and Interest stage. Following this, we although we had missed on those created ongoing competitive tension occasions, they were impressed with throughout the Due Diligence phase, our offering and approach. This by running multiple bidders through to held us in good stead when we were exchange. asked to pitch against our competitors 30 A Colliers International publication 00