A turnkey hotel development opportunity which looks set to be the first corporate-led CBD hotel for Wollongong for sale is set to hit the market in the heart of the city centre. For sale through Tony Bargwanna, Leon Alaban, Nick Lower, Max Cooper and Selin Ince of Savills Australia.

 Designed by the award-winning Andrew Burns Architecture, Wollongong’s major hotel will offer 'lifestyle positioning with strong corporate appeal' and include 241* luxurious appointed hotel rooms ranging from 22sqm* to 38sqm* across 13 levels, with additional signature food and beverage, lounge, mezzanine and gym facilities.

For sale through Tony Bargwanna, Leon Alaban, Nick Lower, Max Cooper and Selin Ince of Savills Australia, the freehold 2,007sqm site at 37-39 Burelli Street will feature a “strongly activated ground floor with premium hospitality offering which is “on-trend globally” within a prime location in the heart of Wollongong’s CBD, at the intersection of Corrimal Street and Burelli Street. The property has agreed management terms with a global hotel operator, which is one of the largest hospitality; restaurant and lifestyle companies in the Asia-Pacific Region.

Surrounded  by numerous cafes and restaurants, shopping amenities, Illawarra Performing Arts centre and Art Gallery, WIN Stadium and Sports Entertainment Centre along with famous beaches, the property is well serviced by road, train and bus routes providing easy access to neighbouring Port Kembla (10.5km) and the Sydney CBD (80km).

According to Tony Bargwanna, National Director – Hotels at Savills Australia, “The developer has consulted with council for over six months and finalised the proposed scheme including several meetings with council’s General Manager, Planners and Design Review Panel to ensure required Design Excellence criteria is achieved. The DA with council is a compliant scheme and within all planning controls.”

“The Hotel Development is strongly supported by Wollongong City Council who are also the adjoining neighbour of the property and have indicated a timely approval will be provided, anticipating consent to be issued May/June 2021 by JRPP” he said.

According to Nick Lower, State Director – Hotels at Savills Australia, Wollongong’s expanding property market is being driven by population growth, a highly educated workforce, a well-balanced demographic profile and influx of infrastructure projects.

“Occupiers are witnessing Wollongong as an attractive place to do business, leading to greater tenant demand and rental growth across all sectors” he said.

Independent reports commissioned by Cre8tive Property (though STR) confirmed that Wollongong has achieved consistently high occupancy rates at close to 80% year-round since 2018, with 2019 finishing at 85% occupancy with an ADR of AU$188.

Historically known for its Coal and Metal Industries, Wollongong is now regarded as an emerging national and international trade hub thriving from a prosperous corporate environment. Reputable for its pristine coastline, internationally renowned university, strong local community and as a thriving corporate CBD 1.5 hours outside of Sydney, Wollongong is the third largest city in NSW.

Located within the Illawarra region, the city generates a total of 63% of the Illawarra’s GRP and is projected to grow from $14 to $16 million by 2022.

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