The Rydges Palmerston Hotel, one the Territory’s largest hotels, has been up for sale by businessman John ‘Foxy’ Robinson.

This is the first time Rydges Palmerston is being offered for sale since it opened its doors in 2015. An international Expressions of Interest campaign, managed by CBRE Hotels national director Wayne Bunz and associate director Hayley Manvell, will close on September 22.

The nearly 200-room hotel sits on a large 8,600sqm freehold site in Palmerston City.

“This is a high-yielding investment opportunity backed by proven historical financials, with the hotel consistently trading at near 100 per cent occupancy levels and achieving a net profit of $7.2 million in the past financial year,” Mr Bunz said.

With 135 hotel rooms and 65 one- and two bedroom apartments, it offers a combination of 229 beds and has a 24-hour reception, six large conference spaces, a restaurant and bar, pool, gym and parking for 251 cars.

Mr Bunz said the hotel benefits from a varied and increasing demand base, with limited local competition.

“The hotel is currently operated with the benefit of a franchise agreement to Rydges Hotels and Resorts, however an incoming purchaser has the flexibility to exercise vacant possession at their discretion, opening up the opportunity to rebrand or own and operate the asset,” he said.

Mr Bunz said investment-wise, Darwin is a globally-significant LNG service and supply hub, home to the Darwin LNG and Ichthys LNG projects with a combined annual production capacity of 12.6m tonnes.

The district is the subject of a $50 billion private and public infrastructure pipeline development, led by Sun Cable’s $35 billion solar energy site, HyperOne’s $1.5 billion high-speed network, and the expansion of the INPEX Ichthys LNG onshore facilities.

“The project pipeline will put Darwin on the global stage and attract a substantial influx of transient workers seeking high-quality short-term accommodation, meaning the long-term guest base for this asset is secure,” he said.