Fremantle's iconic Esplanade Hotel is expected to be popular with investors.
Fremantle’s iconic Esplanade Hotel is expected to be popular with investors.

An iconic building in the seaside town of Fremantle will soon be with new owners after CBRE was engaged by Primewest to offload the Esplanade Hotel, around 45 minutes south of Perth.

The landmark edifice began as Fremantle’s first pub in 1897 and is one of the most popular and well-known hotels in Western Australia. It sits across the road from an expansive waterfront park in the centre of the historic colonial township rich with Australian convict history.

Now operating as an expansive hotel with 300 rooms, four restaurants and expansive conference and meeting facilities. Nearly 200 car spaces, retail options and offices are all included in the site sale.

Significant investment in the Fremantle area’s tourism sector continues to pay dividends. A public/private development investment of $1.3 billion is expected to stimulate the local retail and tourism offerings, which include the famous old Fremantle Jail and a strong craft beer scene.

CBRE’s Ryan McGinnity said strong investor interest from local, interstate and international groups was expected in the listing.

“With Fremantle being WA’s most visited tourism precinct after the Perth CBD, the sale of the Esplanade Hotel represents an outstanding opportunity to acquire a well-established operation that has strong connections to the area’s rich history,” he said.

“Fremantle has not seen this level of development and investment since the America’s Cup over three decades ago. This boost will play an important role in driving tourism and economic growth in the medium term – ensuring the historic city remains a key Western Australian tourism destination,” CBRE’s Aaron Desange added.

Expressions of interest close on 06 September at 3pm AWST.