The approved hotel scheme comprises of 227 guest rooms and suites, a restaurant, bar and lounge, meeting facilities, a function room and 297 car parking spaces. In addition, the Property will offer a pool, gym and health spa.

The sites zoning also allows for a range of alternative uses including car park, drink establishment, indoor recreation facility, restaurant and personal service shop.

The Property is located in the Parliamentary Precinct of Forrest next to Parliament House, and is surrounded by a multitude of international embassies, consulates and high commissions’. Approximately a 15-minute drive from Canberra International Airport and only a 10-minute walk from Manuka Shopping Precinct, the future hotel development is ideally located within the city, providing easy access to a variety of entertainment and lifestyle amenities.

Click here to view the full listing on The Hotel Page.

With the recent introduction of new short-haul international flights to Canberra Airport, the city is expected to see continued growth in tourism arrivals, welcoming direct routes from Doha and Singapore. Furthermore, according to the 2018/19 State Budget, the city is on track to achieve its goal of $2.5 billion in overnight visitor expenditure per annum by 2020.

The Canberra accommodation market has seen growth in both occupancy and ADR over the previous four years, with RevPAR growth of over 4% through 2018.

“With excellent real estate fundamentals, the sale of 78 Franklin Street presents a coveted development opportunity in one of Australia’s best performing accommodation markets” said Andrew Langsford, Vice President of JLL Hotels and Hospitality Group.

“The Crown lease has been varied to permit a wide variety of commercial accommodation, hospitality and community uses – ensuring this opportunity is well positioned to take advantage of Canberra’s growing economy,” said Tim Mutton, Head of Sales & Investments of JLL Canberra.

The development site is being offered for sale via Expressions of Interest, ending 20 June 2019. 

Click here to view the full listing on The Hotel Page.

This is an Elite Property.

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