Oaks gets Rivermarque rights

Oaks Hotels and Resorts has been awarded the management rights for the $40 million Rivermarque project in Mackay.

Reed Property Group managing director Ken Reed said Oaks’ business model and expertise in handling management rights was the perfect fit for Rivermarque.

One of the first high-rise developments in the city is now under construction and construction is due for completion in mid-2014. Rivermarque has 91 apartments all featuring at least one secure car park. On-site facilities include a gym, outdoor
pool, spa and barbecue area, along with ground-floor retail and hospitality amenity.

Oaks Hotels and Resorts founder and chief executive Brett Pointon said the sale marked an important milestone in what is a long-running relationship with Reed Property Group. “While this is the first set of management rights we have purchased from Reed Property Group, a number of our apartment buildings have been constructed by Reed’s construction division, RCQ Construction, over the years, including the new Oaks at Gladstone which is currently under construction,” Mr Pointon said.

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