ONE year after officially opening its doors, Newcastle's luxury QT Hotel is on the market.
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![Owner and developer Iris Capital has listed Newcastle's QT Hotel for sale one year after opening it doors. Picture supplied. Owner and developer Iris Capital has listed Newcastle's QT Hotel for sale one year after opening it doors. Picture supplied.](/images/transform/v1/crop/frm/170682627/fa1ff4bd-7efa-48ff-955d-3e05b5b4e1ee.jpg/r0_0_780_499_w1200_h678_fmax.jpg)
The hotel, which is part of Newcastle's East End development, and the surrounding East End Retail precinct have been listed for sale by owner and developer Iris Capital.
The property is being sold via an Expressions of Interest campaign with CBRE's Michael Simpson, Tom Gibson and Vasso Zographou.
The Newcastle Herald contacted CBRE to obtain price expectations for the property, however, a spokesperson for the agency said they are not releasing a guide for the listing.
Housed within the 113-year-old heritage David Jones building, QT Hotel offers 104 guest rooms and suites with dining options including a rooftop bar with views across the harbour and coast.
![Inside the rooftop bar at The QT Hotel in Newcastle. Inside the rooftop bar at The QT Hotel in Newcastle.](/images/transform/v1/crop/frm/170682627/e2f2bcf7-c29d-4187-a568-517ebd57d691.jpg/r0_0_780_499_w1200_h678_fmax.jpg)
The hotel opened in June 2022 and is managed by hospitality giant EVT under the QT luxury-lifestyle brand.
The 2,775 square metre East End Retail precinct is anchored by Woolworths Metro and CBA and its central courtyard includes boutique stores and eateries.
The precinct also includes the Lyrique Bar which is a sports bar with 10 gaming machines.
East End developer Iris Capital has invested more than $700 million into the reinvigoration of Newcastle's East End as a mixed-use precinct, with the hotel and retail being the cornerstone, complemented by high-end residences.
![The QT Hotel in Newcastle offers luxury five-star accommodation. The QT Hotel in Newcastle offers luxury five-star accommodation.](/images/transform/v1/crop/frm/170682627/e9cc482e-644b-4655-81cc-883b14af229e.jpg/r0_0_780_499_w1200_h678_fmax.jpg)
On completion, the four stages of the East End development will include over 500 homes accommodating more than 1400 residents.
"This opportunity represents a significant offering for an astute purchaser with multiple diverse and defensive income streams including hotel rooms, successful food and beverage outlets, the substantial retail component, and gaming operations," Mr Simpson said.
"We anticipate very strong interest from a wide range of investors for these assets," Mr Simpson said.
The Expression of Interest campaign closes on August 24, 2023.
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