Veriu Group expands into Sydney’s Hills District
First Punthill Apartment Hotel in NSW significant milestone in company’s growth journey
Further expanding its Sydney property portfolio, the Veriu Group has opened Punthill Norwest, its first Punthill Apartment Hotel in NSW.
Occupying a former Adina hotel site, the 106-partment property is in a prime location close to the Norwest Business Park, Hillsong Church, Woolworths Group corporate office, Norwest Hospital and Lakeview Private Hospital, as well as major industrial and manufacturing hubs in nearby Baulkham Hills, Castle Hill and Kellyville.
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Offering guests a mix of studio, one-bedroom, two-bedroom and three-bedroom apartments, as well as conference and meeting facilities, Punthill Norwest features include a swimming pool, an on-site gym and a guest laundry.
Veriu Group CEO, Zed Sanjana said the Veriu Group’s expansion of the Punthill brand into NSW represents a logical progression.
“This year we made the launch of our first Sydney Punthill property and our first Melbourne Veriu Hotel key priorities for the Group,” he said.
“With Punthill Norwest opening and the new Veriu Queen Victoria Market Hotel in Melbourne set to welcome its first guests later this year, we’re well on track to achieving another significant milestone in our growth journey.”
The Group is also planning a multi-million-dollar refresh program to the property, which is expected to be completed by the end of 2023.
Another factor, he said, driving the group’s decision to open in Norwest has been the marked shift in owner preferences in the face of increasing global uncertainty and inflationary pressures.
“In the post COVID-19 world, we’re seeing more and more owners and investors moving away from traditional Hotel Management Agreements towards the security of income provided through guaranteed lease structures,” he said.
“And we’re one of the few operators to offer this in the market right now. Plus we know that Norwest is a well-established and historically under supplied market, with strong, existing demand from many of our key corporate customers, all of which added to the property’s appeal.”
On Veriu’s decision to acquire an existing hotel from Adina, Mr Sanjana said the company knew that Norwest was a well-established and historically under-supplied market.
Mike Parker-Brown is a UK-trained and qualified journalist and an award-winning travel communicator with more than 30 years experience.
Since 2002, Mike has worked as a freelance writer and PR consultant providing his services to major organisations in Australia and internationally in the tourism, aviation, hospitality, recruitment and export marketing sectors.
