Partnering with Pelligra Group, this innovative project involves transforming over 5,000 sq m of office space in Adelaide into a modern 111-key hotel.
Home from home
With meeting facilities, a gym and a laundry, Veriu Adelaide is set to provide a home away from home for business travellers, tourists and students.
Scheduled to open in Q3 2024, the site is located in King William Street in the heart of the city’s bustling CBD. The property will offer a mix of modern studio, interconnecting studios and one-bedroom suites, each including a fully-equipped kitchen, desk and fast, high-quality internet, with all of them designed to accommodate solo and group travel.
Readapting office space
Veriu CEO Zed Sanjana believes the decision to readapt existing underutilised office space hit hard by the pandemic for apartment hotel accommodation rather than undertaking a totally new build is a logical one: “We see this as a great opportunity to take advantage of a prime site location in a new market for us – Adelaide – where we’ve identified a growing demand for quality CBD accommodation.
“We are delighted to be partnering with the Pelligra Group on the first of hopefully a number of future opportunities together.”
Developer, Pelligra Group, comes to the project with a well-established track record of delivering high-quality commercial, hotel, industrial and residential projects in both Australia and the Asia Pacific region. The chairman, Ross Pelligra, said: “We are excited to be partnering with Veriu Hotels & Suites to deliver this landmark mixed-use development at 80 King William Street, Adelaide.
“Our plans to integrate the upscale Veriu Hotels & Suites brand into our building along with major upgrades to our commercial office levels and building facade will create a truly unique development at one of the premier addresses in Adelaide’s CBD. Pelligra Group sees the benefits as a long-term asset owner as well as those for our office tenants of providing convenient and important amenities to 80 King William Street through securing a hotel operator like Veriu with a proven track record and a guaranteed long-term lease structure.”
This signing comes after an eventful year for Veriu Group, which saw the opening of Punthill aparthotels in Essendon North and Parramatta, the launch of Veriu Collingwood in Melbourne, and the initiation of construction on multiple sites across Victoria, New South Wales, and the Australian Capital Territory.
Other Punthill projects underway include a pair in New South Wales, the 76-key Punthill Maitland, scheduled for Q3 2024 and the 93-room Punthill Liverpool, expected to arrive in the Sydney suburbs in Q4 2024. Plus another 76 keys will be headed to near Canberra in Q3 2024 in the form of Punthill Greenway, while the outskirts of Melbourne will welcome the 90-room Punthill Sunshine in Q4 2024.