23 September 2011
One of South Australia’s largest property developers and the owner of the Crowne Plaza Adelaide hotel, Hines Property, has today lodged plans for a 17-level $65 million hotel development on Grenfell Street in the heart of the Adelaide CBD.
On completion the hotel will include 300 rooms and suites, together with food and beverage facilities, conference and meeting space, guest lounge and business facilities, and a fitness centre.
To be located at 122 Grenfell Street on the corner of Twin Street adjacent the historical Adelaide Arcade and Gays Arcade, the hotel will be just metres to Rundle Mall – the main shopping strip of the CBD.
Hines Property is currently in advanced negotiations with an international operator to manage the hotel, with an official announcement expected soon.
The hotel marks the fifth major development undertaken by Hines Property in the Hindmarsh Square precinct within the Adelaide CBD having recently completed the nearby $100 million Crowne Plaza Adelaide hotel and the adjoining $50 million 20 Hindmarsh Square apartments complex. Hines Property also developed the $70 million Conservatory on Hindmarsh Square, the $30 million Domain Apartments development and the $50 million Mantra on Hindmarsh Square serviced apartments development.
Grenfell Street has become the focus of CBD development in recent times with over $500 million worth of projects, including Pacific Developments’ Rundle Place retail and office development which is currently under construction, and Hines Property’s national award-winning Conservatory office and residential development.
Hines Property Managing Director James Hines said: “Major government investment in key tourism infrastructure assets helps underpin the commercial case for this hotel. The Adelaide Oval upgrade which will bring AFL to the city nearly every winter weekend and the expansion of the Convention Centre are important catalysts for the future development of this city. Adelaide hotels are already running at very high occupancies mid-week due to strong corporate demand, and we expect this to further increase when additional major projects come online.”
The 122 Grenfell Street development is expected to create more than 200 jobs during construction and then 80 permanent positions once the hotel becomes operational.
Works are planned to commence on site next year with the hotel to open its doors in 2014.
About Hines Property
Hines Property is an integrated property development and property investment group with experience across high-rise residential developments, commercial/retail developments and hotel developments. One of the most active developers in South Australia, and recipient of multiple state and national industry awards, Hines Property has recently completed more than $300 million of developments in the Adelaide CBD area alone.
The strength of a Hines Property development is underpinned by premier site and location selection, careful emphasis on design and amenity, and a strong track record of development delivery. The results demonstrate a philosophy of lifestyle, excellence in design and a quality of finish rare in the Adelaide market. Hines Property has become a market leader for environmentally sustainable design and innovation, and is a pioneer of ‘green’ high-rise development in Australia.
For more information visit www.hinesproperty.com.au
FURTHER INFORMATION:
Please contact James Hines on (03) 8825 6000
ISSUED BY HUGHES PUBLIC RELATIONS:
Please contact Kieran Hall on (08) 8412 4100 or kieran@hughespr.com.au
