Auckland's $40m Federal Street Car Park sold to ICD a prime candidate for new hotel development
The $40 million sale of Auckland's Federal Street Car Park building to Australian property group ICD Property Investment has achieved one of the highest price per square metre rates ever recorded in the Auckland CBD and will potentially pave the way for a new luxury hotel development.
Brand new Best Western Plus North Lakes Hotel opens
The waterfront Best Western Plus North Lakes Hotel, 20km north of the Brisbane CBD, has become the latest high-quality property to join the Best Western Australasia network.
The Brisbane City Council has approved the Jubilee Hotel's redevelopment, making way for a new 14-storey office tower while maintaining the heritage of the Bowen Hills pub.
In a first step towards their single-use plastic free 2020 goal, Sudima Hotels recently became the first group of hotels in New Zealand to discontinue using plastic straws – eliminating an estimated 52,000 straws each year from going to landfill.
A brand new five-star boutique hotel being created as part of one of Auckland’s tallest and most luxurious residential towers in central Auckland, The Pacifica, is being marketed for sale by Warren Hutt and Peter Hamilton of CBRE for developers Hengyi Pacific.
Minister for Planning Richard Wynne has announced planning approvals for the $450m Munro site Hotel and Apartment development that sits within Melbourne's Queen Victoria Market precinct.
Many New Zealand hotel markets are outperforming their Australian counterparts as demand for rooms continues to outstrip supply with Queenstown, Auckland and Rotorua among Australasia's top markets.
Five-star Horizon Hotel opening in Auckland next year
Auckland's new five-star Horizon Hotel will open in late 2019, bringing 303 new high-end rooms to the city centre being built alongside the New Zealand International Convention Centre.
