Developments

Banyan Tree’s first in Australia

The Gold Coast’s first five-star hotel since the GFC is being planned for the Esplanade at Surfers Paradise by Singpore-based Banyan Tree Group.

A 970m² parcel of beachfront land has been acquired by Banyan Tree Group for $11.5 million after the sale was negotiated by Roland Evans through his Canford Property Group.

It will be the first hotel in Australia for Banyan Tree Group.

Mr Evans said, “This sale highlights the growing confidence in the Gold Coast market among Asian investors, and is expected to draw increased attention from other investors looking for similar opportunities.”

Plans include a luxury hotel and serviced residential apartments built under a new Banyan Group brand that will deliver high-end accommodation focusing on the Chinese tourist market.

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