Pay for the past, consider the Present But Buy it for the Future
MORE than 4500 new hotel rooms are slated for Brisbane in the next decade as the city becomes a magnet for the global business community in the wake of the G20 world leaders summit.
Brisbane is on the brink of a construction boom set to change the skyline and transform the architectural atmosphere as the private sector delivers a vote of confidence in the Queensland capital.
Vision of Brisbane 2033 unveiled
Tower of power to cost $1b rent
New 81-storey tower approved
Lord Mayor Graham Quirk said he expected commercial construction figures, which jumped by 10 per cent to reach $2.04 billion in 2012, to record another big leap as the new year drew to a close.Cr Quirk, who this week announced the $800 million redevelopment of 304 George St, including three new buildings, said a generational change was under way in the Brisbane CBD.Five new hotels are already under construction across the city, while six more are mooted, along with a series of serviced-apartment buildings.Cr Quirk said Brisbane was about to experience its second growth spurt following the rapid expansion following the city's coming of age during the 1988 World Expo.
"There is no doubt World Expo was the game-changer for Brisbane,'' Cr Quirk said."Before that we were rightly criticised for being a small country town. Now we are moving into another phase of growth.''
Brisbane Marketing research shows the city's hotel market has the capacity to grow by up to 450 rooms a year for 10 years.Conferences and conventions are also booming as the G20 summit, to be held in November, boosts Brisbane's international profile.
Up to 16 conferences, contributing around $30 million to the economy, came to Brisbane in the three months between July and September
.That represents more than half the $53.3 million generated by conferences and conventions in the 2012-13 financial year.The Singapore based SilverNeedle Hospitality Group International, spending $50 million refurbishing the landmark Chifley at Lennons hotel after acquiring the Queen Street Mall site for $57 million last year, says Brisbane is an international hotspot.
SilverNeedle chief executive officer Iqbal Jumabhoy said the Brisbane hotel market had strong fundamentals."There is a pent-up demand for business rooms in Brisbane and we believe that will continue," Mr Jumabhoy said."We're very comfortable with the dynamics of the Brisbane market, and my own view is that the master plan that's been put in place, and the plan for Brisbane going forward, is extremely attractive for business."
2. Business at a glance
3. The Opportunity
5. Building Snap Shot and Stay Statistics
6. 20+ reasons why this is a great business
7. Would you like to know more information or have a question, click here we will get back to you within 2 hours
8. Sale Process and Timing
9. Expression of Interest Form
10. Industry Report