Herald Sun Tuesday March 7 2019
MELBOURNE-based developer Pellicano will break ground today on Quest’s first Gold Coast project, as the hotel operator seeks to make inroads into the growing business trip market.
The $32 million eight-storey project, to be called Quest Robina and Lucia Residences, will include 80 rooms, 37sq m of ground-floor retail, two-level basement carpark and 24 residential apartments. It will be located adjacent to the train station in Robina’s Stadium Village precinct.
Pellicano bought the 2769sq m site at 3 Centreline Place in April last year from Robina Land Corporation for $2.172 million. It received planning approval from Gold Coast City Council in August and shortly afterwards cemented a partnership with Quest for four projects worth $182 million.
Besides Robina, the projects are located in Ballarat, Melbourne and Geelong in Victoria, with all four set for completion in 2020.
Robina/Varsity Lakes is home to a growing workforce, seen in the falling office vacancy rate, which fell from 13.3 per cent to 12 per cent for the six months to January.
Quest Apartment Hotels general manager James Shields said the hotel will meet demand from the growing business trip market.
He said the business accommodation sector has seen average growth of more than 6.5 per cent over the past six years.
“We see Robina as a key commercial centre for the Gold Coast economy — evidenced by low office vacancy, iconic commercial towers and a range of drivers across the health, sporting and retail sectors to support future growth,” he said.
Pellicano managing director Nando Pellicano said the project meets the three fundamental elements of a successful development.
“Fifty years of development have taught us that the key drivers of an in-demand product remain constant despite market fluctuation; quality design, in-demand location and access to premium residential and lifestyle amenity,” Mr Pellicano said.
“This project’s convenient location and ease of access to amenities paired with Quest’s reputation for delivering quality accommodation ensures our confidence in the success of this project.