$120 million Adina Apartment Hotel in Fremantle announced today.
April 14, 2016 3 Comments
Interesting to see this new hotel plan in the Australian today for the Coles Woolstore site
Singapore and Australian-owned TFE Hotels is to operate at least six more domestic hotels, with the most advanced, a $120 million Adina Apartment Hotel in Fremantle, to be announced today.
TFE Hotels chief executive Rachel Argaman said the 141-room hotel would be developed on the Woolstores Shopping Centre site at 28 Cantonment Street, opposite Fremantle’s cruise terminal, which is due to berth at least 81 cruise ships this year.
The developer is local group Silverleaf, which is also undertaking a shopping centre upgrade even though its director and owner Gerard O’Brien admits the economy is softening and there’s a 20 per cent plus office vacancy in Perth.
“But Fremantle is turning around,” Mr O’Brien told The Australian.
Ms Argaman says Fremantle is very much about leisure, government and corporate business and has a large-scale conferencing market.
“There’s nowhere for conference delegates to stay and this will be the first new development for a long time.”
Disembarking cruise passengers are also expected to stay at the Adina Apartment Hotel which will mainly feature one-bedders, as well as 60 studios and eight two-bedroom apartments.
Construction is expected to start next year with completion by 2018.
CBRE Hotel’s David Kennedy says there’s a surge of development planned in Perth’s hotel market over the next five years with a swag of luxury hotels including the Ritz Carlton, Sheraton, Inter-Continental and the Westin planned to open.
The Diploma Group last week committed to one of Perth’s newest projects buying Quest Adelaide Terrace in a $42m deal. In the heart of Perth’s CBD, the Quest development at 176 Adelaide Terrace will sport a 19-level building, according to Mr Kennedy.
However, the Indian Ocean Hotel, a live music venue and 59-room hotel in Perth’s Scarborough Redevelopment Area, is being sold by receivers HLB Mann Judd through an offers-to-purchase campaign. The marketing agents are Mr Kennedy and CBRE Hotels’ Ryan McGinnity.
“The property is not only one of the most loved hotels and live music venues in the northern beachside suburbs, but it is also strategically situated on 4200sq m landholding in the soon-to-be revitalised Scarborough Redevelopment Area,” Mr McGinnity said in a statement.
Meanwhile, in Europe, Ms Argaman said TFE, a joint venture between the local Toga Group and Singapore’s Far East Hospitality Holdings, would double the number of hotels it operates in Germany from five to 10.
“In Europe for the foreseeable future we will concentrate on Germany,” Ms Argaman said. The new German Adina Apartment Hotels will be located in cities including Nuremburg, Frankfurt, Leipzig, Hamburg Heights.
In Australia, there are more projects in the pipeline including a $150m Adina Apartment Hotel at 280 George Street, Sydney, with planning under way for a 175-room hotel located opposite the city’s Wynyard Railway Station.
The Adina Apartment Hotel Royal Randwick Racecourse in the city’s east, which will feature 170 apartments, is on track to open in late 2018.