Veriu expands NSW footprint
Veriu flags third property in three months with Liverpool CBD development
Capping off a busy few months for the Veriu Group, the company is set to continue the ambitious roll out of its successful Punthill apartment hotel accommodation model in NSW with news it will open its third property, Punthill Liverpool, in Sydney’s rapidly expanding southwest corridor in 2024.
The announcement follows the opening of its first Sydney Punthill property, Punthill Norwest, in August, and the start of construction on its first regional hotel, Punthill Maitland in the Hunter Valley in September, scheduled to open in late 2023.
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The new property forms part of a mixed-use development in the soon to be built 34-storey The Liverpool by FYVE, the 93-key apartment Punthill Liverpool will comprise a mix of modern studio, one-bedroom and two-bedroom apartments, each one including a fully-equipped kitchen, balcony, desk and fast, high-quality internet.
Alongside this, conference and meeting facilities, secure on-site parking, a gym and a guest laundry, will cater to both the corporate and leisure market.
Punthill Liverpool will be an anchor tenant for soon to be built, The Liverpool by FYVE which when complete will 193 apartments, 6,500sqm of commercial space, and a range of ground-floor retail tenancies.
Joining development partners and FYVE co-founders, Amen Zoabi and Khalil Hafza; Chris Kelly, General Manager of Binah, the project’s construction partner; Liverpool City Council Mayor, Ned Mannoun and Deputy Mayor, Mazhar Hadid, for a ground-breaking ceremony to mark the start of construction, Mr Sanjana said the decision to open the hotel within the mixed-use development was a logical one.
“Strategically we’ve always sought to grow the Punthill portfolio by opening in locations supported by major sources of corporate room night demand,” he said.
“While Liverpool has historically been undersupplied in terms of quality extended stay accommodation, its population is expected to almost double in the next 20 years, – it’s already home to the Western Sydney Aerotropolis and Liverpool Innovation Precinct and about to become the gateway to the $5.3 billion Western Sydney International (Nancy-Bird Walton) Airport, opening in 2026.
“That means Punthill Liverpool is ideally positioned to meet the increasing demand for premium extended stay self-contained accommodation in a growing market, in one of the area’s most central locations.”
Mr Sanjana the opportunity to include the Punthill Liverpool within the mixed-use development, was another key factor driving the decision to open there.
“Mixed-use developments are already emerging as a clear cornerstone of our growth and development as a Group going forward,” he said.
“We know that short or long-term accommodation plays an integral role in servicing these types of commercial and office hubs and can also assist developers in attracting good quality tenants, customers, and residential renters or buyers who see the benefits of a locally self-contained centre from an end-to-end amenity.
“I believe we’re a very good operator in this space, with a successful tried and tested model that works. So, we’re confident that what we bring to the table as an anchor tenant will definitely add value to the overall development.”
FYVE’s Amen Zoabi is also excited to be working with the Veriu Group.
“We really want to give visitors to south-west Sydney a first-class experience and being able to offer them premium accommodation within the precinct will be key to this,” he Sid.
“The Punthill product will bring a real level of sophistication and service to The Liverpool by FYVE and perfectly complements what we’re trying to achieve here.”
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