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DOCKLANDS | Quest Docklands | 387-395 Docklands Drive | 57m | 17L | Residential

Mark Baljak's picture

due for approval


north west

north east



L7 setback

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Lopan's picture

Seems to be an unusual location considering they wont be able to sell any harbour views (blocked by the Arkley).

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Mark Baljak's picture

Not sure if it's one or both towers?

Ascott Limited, Qatar Investment Authority buy Docklands Quest

The world's biggest serviced-apartment operator and Qatar's sovereign wealth fund have teamed up to acquire a new $71 million Quest apartment hotel, to be built at Melbourne's Docklands.

Ascott Limited, a subsidiary of Singapore-listed real estate giant CapitaLand and the $337 billion Qatar Investment Authority will jointly acquire the new 221-room Quest NewQuay Docklands apartment hotel being developed by private developer MAB Corporation at its New Quay waterfront precinct.

The investment is the first by Ascott Limited since it struck a $500 million agreement with Quest in late 2014 to invest in new hotel developments. At the same time, Ascott Limited acquired 20 per cent of Quest for $28.8 million while its listed real estate investment trust, the Ascott Residence Trust acquired three Quest apartment hotels in Western Sydney for $83 million.

The Docklands acquisition is the first in Australia and fourth globally by Ascott and QIA as part of a $US600 million ($790 million) joint serviced-apartment fund they established a year ago.

Quest founder and chairman Paul Constantinou said the Docklands deal represented the "blueprint" for how the partnership would operate in the future, enabling Quest to accelerate its rollout of new hotels across Sydney, Brisbane and Melbourne.

Mr Constantinou said supply of new hotel rooms had lagged demand in most markets mainly due to a lack of support from domestic institutions. "Investment from large-scale Asian groups like Ascott, will enable the sector locally to meet the demand," he said.

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Laurence Dragomir's picture

MAB developing both towers then on selling Quest to the JV.

Meanwhile Six Degrees are working on a mixed-use scheme on Lot 5 between this site and HarbourOne.

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