The Fu Wah International Group has added Melbourne’s iconic Park Hyatt Hotel to its extensive portfolio, paying AUD130m (£76m) for the property. Partner Lloyd Baggott led Minter Ellison’s transaction team, supported by senior associate Richard Anderson, associate David Chin and lawyer Chris Hu.
The Chinese real-estate group has significant land holdings in Beijing, including the Regent Hotel Beijing and the Legendale Hotel Beijing. The Park Hyatt is Fu Wah’s first acquisition in Australia.
The Park Hyatt Melbourne is a five-star hotel in the city’s central business district, overlooking St Patrick’s Cathedral and Fitzroy Gardens. This is the second time in the past 11 years that Baggott’s team has acted in relation to the acquisition of this hotel.