Holborn by Q Resorts
Holborn by Q Resorts is the second stage of a $400 million development in Townsville’s brilliant new inner city village development, Central.
Q Resorts is deeply involved with the apartment project having the stage 1 Islington project – a 95-apartment resort running at 80% occupancy and will also take on the 10-level, 44-apartment Kensington stage 3 that recently received council approval.
Central is Townsville’s first inner city, master planned village complex is being developed by Honeycombe’s Property Group in a 6.5ha site on Flinders St West and will, on completion, have around 520 apartments. It will feature a vibrant resort-style mix of contemporary living, restaurants, shopping and entertainment set in waterfront surrounds.
Holborn by Q Resorts, on the banks of Ross Creek, is a part five-level, part nine-level building with one, two and three-bedroom units, roof-top pool, jacuzzi and BBQ area, cinema-function room, gymnasium, conference facilities, secure basement parking for residents and an 1800m² retail precinct at ground level that will house restaurants, cafés and boutique outlets.
Along with the latest fixtures and fittings, Holborn by Q Resorts’ apartments have contemporary interiors created by award winning architects Fairweather Proberts. Each air-conditioned apartment includes full kitchen facilities and private balconies.
Q Resorts began in 2005 when Rob McLean purchased the management rights to Brisbane’s Abbey Apartments on Roma St. Rob was no stranger to the accommodation industry having grown up in a motel-owning family in Victoria before studying hotel management in Switzerland. He worked in food and beverage for a number of years for Hyatt, Hilton and Accor hotel groups before deciding to put his experience to even better use and branch out on his own.
“When I bought the rights to Abbey I thought the company might grow to a couple of properties,” said Rob.
Today Q Resorts operates eight complexes all around the four-star range. Rob explained that via the wholesale change of property use, excellent marketing, detailed customer service and smart rate yielding, returns to owners at Abbey increased significantly and the value of the business increased almost fourfold. Rob explained that via the wholesale change of property use, excellent marketing, detailed customer service and smart rate yielding, returns to owners at Abbey increased significantly and the value of the business increased almost fourfold.
“We opened Holborn by Q Resorts at the end of February and expected a 60% occupancy rate for March, only to find the rate soared well beyond that to 90%,” Rob said. “While the result took us by surprise, it isn’t an anomaly. Occupancy rates in Islington are up five points on last year to 80%.”
Rob, who is currently in Townsville refining the Holborn by Q Resorts operation and appointing a manager, said the typical guest was staying for between two and seven nights and booking well in advance.
“With Townsville’s tourist season about to start and a full calendar of major events from now to September, we are confident occupancy rates will remain consistent or perhaps exceed current levels,” he said.
He may well be confident. Apart from the leisure market, Townsville is booming on the back of mining, defence and corporate business. Defence and government administration provides 11% of jobs in Townsville and creates economic output measured at $1.39 billion. Off-roster miners are a burgeoning market for the city and for Q Resorts.
Rob said the addition of Kensington’s 44 apartments would enable Q Resorts to meet expanding demand, in line with growth of the city and would not be the company’s last investment in Townsville.
“We have great faith in the future of Townsville and will be looking to acquire rights to additional accommodation down the track,” he said. “Our view is that buoyancy in the Townsville market will enable us to add 100 apartments or more to our portfolio in the city over the next few years.”
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