First South Australian hotel for Veriu Group
Veriu Adelaide to open mid 2024: In a first for the Group it will convert vacant office space into a state-of-the-art 111-apartment hotel
The Veriu Group is set to continue the ambitious rollout of its successful apartment hotel accommodation model, with the news that it will open its first South Australian property, Veriu Adelaide, midway through 2024.
Developed in partnership with Pelligra Group, the project is also breaking new ground as one of the Groups first office conversions, with the transformation of over 5,000 sqm of vacant office space into the state-of-the-art 111-apartment hotel.
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Located on King William Street in the heart of the city’s bustling CBD, the property will ultimately offer a mix of modern studios, interconnecting studios, and one-bedroom suites, designed to accommodate solo and group travel, for business or leisure.
Combining light-filled, fully self-catering apartments – each one including a fully-equipped kitchen, desk, and fast, high-quality internet – as well as comprehensive conference and meeting facilities, a gym, and a guest laundry, it represents the perfect accommodation option for travellers seeking the comforts of home. This appeal is expected to be further enhanced by its premium CBD address, excellent accessibility to public transport, and its close proximity to Adelaide’s popular retail precinct, Rundle Mall.
South Australia’s capital, Adelaide serves as a major economic and business hub, ensuring corporate clientele will be the new hotel’s key focus. However, it will also be pitched towards the ever-increasing number of domestic and international visitors to Adelaide’s many major events, festivals, and conferences held throughout the year, as well as its myriad nearby tourist attractions. And with the city home to a number of renowned universities and educational institutions, the property is likewise expected to attract international students, academics, researchers and visiting faculty members.
The decision to readapt existing underutilised office space hit hard by the pandemic for apartment hotel accommodation rather than undertaking a totally new build is a logical one for Veriu Group CEO Zed Sanjana.
“We see this as a great opportunity to take advantage of a prime site location in a new market for us – Adelaide – where we’ve identified growing demand for quality CBD accommodation,’ he said.
“We are delighted to be partnering with the Pelligra Group on the first of hopefully a number of future opportunities together.”
The project also represents a compelling proposition for Pelligra Group, who comes to the project with a well-established track record of delivering high-quality commercial, hotel, industrial and residential projects in both Australia and the Asia Pacific region.
Company chairman, Ross Pelligra said: “We are excited to be partnering with Veriu Hotels & Suites to deliver this landmark mixed-use development at 80 King William Street, Adelaide. Our plans to integrate the upscale Veriu Hotels & Suites brand into our building along with major upgrades to our commercial office levels and building facade will create a truly unique development at one of the premier addresses in Adelaide’s CBD.
“Pelligra Group sees the benefits as a long-term asset owner as well as those for our office tenants of providing convenient and important amenity to 80 King William Street through securing a hotel operator like Veriu with a proven track record and a guaranteed long-term lease structure.”
This announcement caps off a busy year so far for the Victorian-based Veriu Group, following the opening of Punthill properties in Essendon North and Parramatta, its second Melbourne Veriu property, Veriu Collingwood, and the start of construction on various other sites in Victoria, NSW and the ACT. With a number of other projects nearing completion, more announcements about the opening of new Veriu and Punthill apartment hotels at various sites are expected from the Veriu Group in the coming months.
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