A new deluxe hotel will be developed in the heart of Canberra City following Geocon’s acquisition of the Garema Centre site at 70 Bunda Street.

“The Chief Minister recently announced the ACT Government was trying to attract high-end hotels to the city, to help accommodate record numbers of international visitors coming to the national capital,” Geocon Managing Director Nick Georgalis said.

“Anyone who travels regularly to Canberra knows there are times when you can’t find a hotel room because there just isn’t enough supply, particularly for the luxury market.

“The need for more visitor accommodation in Canberra is further evidenced by the fact that there are almost 5000 hotel-comparable room nights available monthly in Canberra on Air BnB.”

Geocon owns and operates the Abode Group of hotels.  Garema Place will be one of the first of the new deluxe offerings the Group will bring to Canberra, and will deliver an international-standard luxury experience.

“The Garema Centre site is in the very heart of the city, with close proximity to world-class shopping in the Canberra Centre and some of Canberra’s best restaurants, bars and attractions, and 300 metres from the light rail stop.

“A brand-new luxury hotel experience at Garema Place will embrace its potential for vibrancy and activation at all hours of the day and night, and boost the surrounding businesses by attracting guests and visitors.

“We have commissioned world-renowned Fender Katsalidis Architects to bring to life our vision of a sculptural icon that will define the heart of the city, and, we will introduce a bold, new hotel brand to Canberra that will reflect the city’s status as Australia’s national capital,” Mr Georgalis said.

Work is expected to start on the project in 2019 with the first guests arriving in 2020.

Matthew Winter, Manager at Colliers International said the campaign attracted strong interest, recording the highest level of enquiry for a Colliers International listed building so far this year.

“Enquiries for 70 Bunda Street far exceeded that of 50 Bunda Street, with a more diverse group looking to secure the asset."

“Unlike many assets offered for sale this year, the flexibility of the 70 Bunda Street site made it an attractive option to a very broad range of buyers. We saw significant interest from developers, investors, student accommodation providers, owner-occupiers and hoteliers,” he said. 

For more information on the sales campaign contact Matthew Winter of Colliers International.

See also:

Mantra converts Canberra office tower to hotel for $19 million

Canberra, Cairns and Sydney steal the march on interstate hotel rivals

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