Hotel Site on Market in Canberra
Canberra companies Elvin Group and Construction Control are to sell its hotel site at the tourist village of Gold Creek in the ACT just two years after acquiring it.
The 2.17ha site was sold to the consortium in 2011 for $2.9 million and it lodged a development application to build a four-star hotel with the ACT Planning and Land Authority later that year. Approval was given for the construction of a four-storey building with 120 serviced apartments plus a restaurant in August last year.
CBRE Canberra managing director Andrew Stewart said the owners had held different ideas on how to develop the site and would now sell it through an expression-of-interest process and is anticipated to sell for more than $3 million.
Craig Elvin, the owner of Elvin Group, that owns the Kamberra Wine Company, has said he wanted the hotel to be part of a drive to enhance the reputation of Canberra as a wine region tourist destination.
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