Hotel Property Investments Limited confirmed that agreement has been reached to acquire the Ball Court Hotel, Sunbury for a total purchase price of $7.6 million, representing an initial yield of 5.4%. Settlement will occur in October 2021. The property comprises the Ball Court Hotel, four retail tenancies and an adjoining residential property that will provide future expansion potential for the Hotel. Australian Venue Company (AVC) are the tenant of the Hotel with a new 15 year lease. In addition, HPI has also agreed to fund $0.3 million of capital upgrade works to the Hotel that will be rentalised at 5.4%. These works are expected to commence immediately following settlement.