The Veriu Group has unveiled plans to open its first South Australian property, Veriu Adelaide, next year, as it continues to roll out of its successful apartment hotel accommodation model.
Developed in partnership with Pelligra Group, the project is also breaking new ground as one of the Groups first office conversions, with the transformation of over 5,000 sqm of vacant office space into the state-of-the-art 111-apartment hotel.
Located in King William Street in the heart of the city’s bustling CBD, the property will ultimately offer a mix of modern studio, interconnecting studios and one-bedroom suites, designed to accommodate solo and group travel, for business or leisure.
The decision to readapt existing underutilised office space hit hard by the pandemic for apartment hotel accommodation rather than undertaking a totally new build is a logical one for Veriu Group CEO Zed Sanjana.
“We see this as a great opportunity to take advantage of a prime site location in a new market for us – Adelaide – where we’ve identified growing demand for quality CBD accommodation,” Mr Sanjana said.
“We are delighted to be partnering with the Pelligra Group on the first of hopefully a number of future opportunities together.”
South Australia’s capital, Adelaide serves as a major economic and business hub, ensuring corporate clientele will be the new hotel’s key focus.
However, it will also be pitched towards the ever-increasing number of domestic and international visitors to Adelaide’s many major events, festivals, and conferences held throughout the year, as well as its myriad nearby tourist attractions.
The project also represents a compelling proposition for Pelligra Group, who comes to the project with a well-established track record of delivering high-quality commercial, hotel, industrial and residential projects in both Australia and the Asia Pacific region.
Pelligra Group chairman Ross Pelligra they were excited to be partnering with Veriu Hotels & Suites to deliver this landmark mixed-use development at 80 King William Street, Adelaide.
“Our plans to integrate the upscale Veriu Hotels & Suites brand into our building along with major upgrades to our commercial office levels and building facade will create a truly unique development at one of the premier addresses in Adelaide’s CBD,” Mr Pelligra said.
“Pelligra Group sees the benefits as a long-term asset owner as well as those for our office tenants of providing convenient and important amenity to 80 King William Street through securing a hotel operator like Veriu with a proven track record and a guaranteed long-term lease structure.”
Victorian-based Veriu Group recently opened its Punthill properties in Essendon North and Parramatta, its second Melbourne Veriu property, Veriu Collingwood, and start of construction on various other sites in Victoria, NSW and the ACT.
