Veriu Group to launch four new properties in Victoria and NSW
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Veriu Group to launch four new properties in Victoria and NSW
Apartment hotel and micro-apartment space provider, The Veriu Group, has announced the roll out of four new locations across the next 24 months under its Punthill Apartment Hotels brand.
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Veriu GroupAn artist's impression of the Puntill Caroline Springs.
Essendon North, Caroline Springs, Oakleigh Central and West Gosford have been announced as new locations for the Punthill Apartment Hotels brand as part of new strategy from The Veriu Group.
Scheduled to start from early 2021, the roll out of the four new additions will increase the group’s Punthill Apartment Hotels collection to 18, and boost the Veriu Group’s overall portfolio to over 1,700 rooms and apartments operating or in development across 25 sites under the combined Veriu Hotels & Suites and Punthill Apartment Hotels brands.
Veriu Group CEO Zed Sanjana said the new locations were selected to take advantage of their surrounding key corporate catchment areas.
“As a group, we can currently offer both corporate and leisure guests staying with each of our Punthill and Veriu properties the ability to move between 18 hotels in the most accessible and convenient locations around Melbourne, Sydney and Brisbane," he said.
"The logical and natural progression for us is to extend this offering to further suburban and key regional markets as well as other states, particularly South Australia."
The 40-apartment Punthill Essendon North will be built in partnership with EVR Group and will offer a mix of studio and one-bedroom apartments.
The hotel is positioned to service the corporate catchment area of Melbourne’s North Western suburbs as well as business travellers commuting from Melbourne Airport.
Conveniently located close to the Western Freeway, the 80-apartment Punthill Caroline Springs will offer guests a mix of studio, one-bedroom and two-bedroom apartments, designed to accommodate solo and group business travellers alike.
Built in partnership with Geopec Pty Ltd, the hotel will also feature conference and meeting facilities, an on-site gym and guest laundry, providing the ease and accessibility of the office in addition to the comforts of home.
Similarly, the 55-apartment Punthill Oakleigh Central will maintain the unique character of the original facade and will comprise a mix of modern fully-furnished studio, one and two-bedroom apartments, all including fully-equipped kitchens, along with an on-site gym, conference room and other amenities.
Situated close to the M1, the property is expected to appeal to those commuting to and from the CBD, with the Monash Medical Centre, Metropolitan Golf Club and Chadstone Shopping Centre all located nearby.
On the New South Wales’ Central Coast, Punthill West Gosford will comprise 60 apartments, including studio, one-bedroom and two-bedroom options and is expected to open within 24 months.
Located near the Central Coast Highway, the property will provide convenient access to region’s rapidly evolving industrial and retail hubs, as well as Gosford’s CBD.
Mr Sanjana said the Australian accommodation market had been consistently undersupplied for a number of years, particularly in terms of upscale and design-driven apartment hotels in key corporate locations.
"We believe that business travellers are increasingly looking for more unique and localised accommodation experiences within these corporate hubs," he said.
Veriu Group Chief Executive Officer Zed Sanjana. Source: Veriu Group
"Our network expansion is focussed on bringing more unique and interesting accommodation options to CBD, suburban and regional markets, in locations underpinned by the business travel segment, supported by business and industrial parks, universities, hospitals and major infrastructure projects.”
The Global Serviced Apartments Industry Report 2018/19 estimates there are now just over 1 million serviced apartments in more than 13,000 locations worldwide.
Between 2016 and 2018 this rate of supply increased by 23.7 per cent, highlighting the rapidly growing appetite for apartments as an alternative to more traditional hotel accommodation, which has been snapped up by both business and leisure travellers alike.
The Veriu Group has been quick to capitalise on this growth of the industry, with the latest announcements following on from the launch of three new projects in Melbourne earlier this year – Veriu Collingwood, in partnership with Gurner TM; Veriu Queen Victoria Market with Melbourne-based developer PDG Corporation; and Punthill Alphington in partnership with Alpha Partners, to be constructed on the former site of the Amcor Paper Mill.
The Veriu Group is expected to grow by an additional 50 properties by 2025, partnering with top tier developers and local businesses along the way.
Click here for more information about the new Punthill locations.
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