We launched our RAF3 portfolio in mid 2023 and acquired a major 62 room property in Cairns, and a 40 room motel in the key regional city of Armidale in NSW. 

A major renovation is under way for Cairns, with the property closed during this period.  Once reopened the property will present largely as new in the constrained mid market accommodation segment.  We expect the reopening to occur in late 2025 or early 2026.  The property is a significant site and includes adjoining houses.

Armidale is a key northern tablelands location in NSW catering to a number of business activities including agriculture, mining, energy, and education.  The City Centre motel is centrally positioned and offers 40 fully renovated rooms.  It is the only 6 star energy rated motel in NSW.