Fremantle developments top $100 million!

Business News recently released a great article titled, “Freo Hotel Plans top $100 million” 

Quest Apartments

 

Developer Sirona Capital [2]’s mooted $30 million, 73-room Quest apartment hotel in the west end of Fremantle is the latest in more than $100 million worth of short-stay accommodation projects being planned for the port city.

In total, there are 439 rooms in the planning pipeline for Fremantle across four developments that have been approved by relevant regulatory bodies.

Sirona announced last week that it would buy a development site at 8 Pakenham Street from Luke Saraceni’s Westbridge Property Group [3] for $7.2 million, alongside a 15-year leasing deal with Quest to operate a proposed 4.5-star hotel.

 

DoubleTree by Hilton

 

Also planned for Fremantle is a $60 million DoubleTree by Hilton [7] hotel, to be built at the corner of Point and Adelaide streets.

The metropolitan south-west development assessment panel approved the proposal in December last year for up to 173 hotel rooms, 77 apartments, as well as hospitality and retail premises.

The existing car park and shop and office buildings at 2 Point Street and 64-80 Adelaide Street will be demolished under the plan.

Building is set to begin later this year on the Campion Design Group [8]-designed project, with Malaysia-based property investment firm SKS Group [9] providing funding.

The Fremantle DoubleTree is scheduled to open in early 2017.

 

More Developments

 

In close proximity to the planned DoubleTree is a seven-storey, 151-room hotel mooted for the old Spotlight building on Adelaide Street.

The Victoria-based property development arm of the Spotlight chain, Glenwaye Pty Ltd, has proposed the project.

The hotel has been designed by McDonald Jones Architects [10], but it is not yet clear when construction will start.

Business News Excerpt

As I told Business News there is an acute undersupply of hotel rooms in the Fremantle CBD, with annual visitors to the port city exceeding 2 million. I’d imagine that most of them don’t stay in Fremantle, because we’ve really only got The Esplanade and The Hougemont, which has just been built,” Mr Milsom said. There aren’t that many options in Fremantle, certainly in the town centre. 

I believe that DoubleTree by Hilton could be the domino that actually gets some of these others across the line. If we can tip the first domino over, I think other people are going to start to have a really serious look at some of those properties and those development opportunities. It does take that brave person to go first.

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