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Leighton Properties announces Grand Chifley as the boutique hotel operator at Mosaic
Andrew Borger 7 June 2011
Leighton Properties has today announced that the Constellation Hotels Group, has secured the rights to lease and operate the 48-room boutique hotel at its Mosaic mixed-use precinct development in Fortitude Valley. Constellation Hotels Group has entered into a 30-year agreement to open its second Grand Chifley property in Australia, its premium hotel brand.
Located on the corner of East, Church and Ann Streets in Fortitude Valley, the Mosaic precinct development also features an 18-storey residential tower comprising 212 apartments, and over 3,000 square metres of retail and commercial space.
Construction of the $150 million precinct – which will provide the final link between the Valley, James Street and Emporium – is scheduled to commence mid-2011.
Andrew Borger, Executive Director and State Manager for Queensland at Leighton Properties, said an expression of interest campaign for Mosaic’s hotel offer received 35 responses from local and national hotel operators.
“Constellation Hotels Group is committed to Mosaic for the long-term and the signing of a national, institutional-grade hotel operator of their calibre is a strong endorsement for Mosaic,” Mr Borger said.
“The Mosaic Grand Chifley, Brisbane will be the only hotel accommodation adjoining the exclusive James Street retail precinct – Brisbane’s number one retail high street.
“The hotel will continue the significant investment into the area, activating the retail and dining spaces at the street level and add to the overall liveliness of the precinct.
“There is an ackowledged gap in the market for new boutique hotel solutions in Brisbane and Mosaic is well timed, and well positioned, to meet this demand.”
The Mosaic Grand Chifley Brisbane is expected to open in July 2013, coinciding with the settlement of the residential apartments at Mosaic.
Constellation Hotels Managing Director, Mr Jonathan Wooller said Mosaic will represent the first boutique hotel in the Constellation Hotels stable of hotels.
“The addition of the Mosaic Grand Chifley Brisbane represents a very exciting step for Constellation Hotels, as we continue to expand the Grand Chifley brand into the boutique accommodation market,” Mr Wooller said.
“Major developments in Fortitude Valley have created some of Brisbane’s most iconic retail and commercial locations. The Mosaic development provides an unparallel offering – to be at the centre of Brisbane’s number one growth market that currently attracts more than 180,000 visitors per week.”
Jones Lang LaSalle’s research report, Brisbane Hotel Intelligence January 2011, said new hotel supply in Brisbane is expected to be quickly absorbed, with market occupancies forecast to average around 80 per cent over the next five years.
The Mosaic Grand Chifley Brisbane will be located in a four-level annexe attached to the 18-storey residential Mosaic development. It will boast its own separate entrance to allow it to operate on a stand-alone basis, providing privacy to residents and guests. The hotel wing features a highly visible porte-cochere and drop-off area, creating its own identity and amenity while complementing the vibrancy of the streetside retail and dining areas.
Mosaic will be the fifth tower development to be delivered by Leighton Properties in Fortitude Valley in the past five years, following the success of the Green Square North and Green Square South commercial towers on St Paul’s Terrace, and the mixed-use HQ North and HQ South Towers on Wickham Street. This takes Leighton Properties’ total investment in the Valley area to more than $750 million.
For more information
Andrew Borger
Executive Director and State Manager Queensland
Phone+61 7 3370 4722
Email Andrew Borger
