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Ascott Residence Trust buys Sydney serviced apartments for A$46m

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Quest Macquarie Park Sydney, 14.7km away from Sydney's central business district, consists of 111 serviced apartment style hotel rooms. These comprise a mix of studios, and one and two-bedroom apartments, with full kitchens and laundry facilities.

Singapore

ASCOTT Residence Trust (ART) has bought Quest a serviced apartments property in Sydney for A$46 million (S$41.5 million), which reflects a yield of 5.5 per cent.

The Quest serviced residence, in Sydney's second-largest business district of Macquarie Park, will be under a...

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