SURFERS PARADISE, QLD, AUSTRALIA: The aggressive expansion of the Wyndham Hotel Group continues with the company revealing a new asset acquisition and management agreement for a landmark Melbourne development.

Located on the corner of William Street and Little Bourke Street, the building is currently under construction by international developer Hengyi Australia Pty Ltd.

Once completed it will feature modern and stylish apartments and will be branded Wyndham on William.

The 531-apartment high rise complex will be managed by Surfers Paradise-based Wyndham Hotel Group and the acquisition also includes the purchase of 87 apartments.

It will run as a mixed-use property in collaboration with Wyndham Vacation Resorts Asia Pacific, the largest vacation ownership company in the Asia Pacific region.

Barry Robinson, CEO and Managing Director of Wyndham Vacation Resorts Asia Pacific and Wyndham Hotel Group in the South Pacific said this new Melbourne development would mark an exciting first for both companies.

“We are very excited to announce our move into a prime Melbourne CBD location, with this mixed-use property, creating an outstanding opportunity for our WorldMark South Pacific Club owners and Wyndham Hotel Group guests to expand their accommodation options,” he said.

“Our focus on expanding our presence in Australia and the Asia Pacific region is set to continue this year and, as a result, our staff numbers at our Gold Coast Corporate Office are expected to grow to over 700 staff to support these expansion plans,” Robinson added.

“My General Manager, Acquisitions and Business Development, David Wray has done a great job in securing this unique property.”

The development is expected to be complete by mid-2014 and will provide a combination of studio, one, two and three-bedroom apartments for both short term accommodation and residential. There is also an extensive retail space and onsite facilities will include a 24-hour concierge, gymnasium, restaurant, medical centre, library, conference space, meeting room and rooftop pool.

The sleek and modern development, consisting of two adjacent buildings, a 23-storey tower on William Street and a 21-storey building in Little Bourke Street, has been designed by Bruce Henderson Architects.

The developer, Hengyi Australia is an affiliate of Shandong HYI (Group) Co. Ltd., an award winning residential and commercial developer based in China.

“On behalf of Hengyi Australia I would like to say how pleased we are to be partnering with Wyndham on this outstanding development, which we are sure is going to become a landmark building amongst the Melbourne CBD landscape,” said Hengyi Australia spokesperson, Stephen Speer, head of Marketing and Business Development.