QIC Global Real Estate has signed its first deal with SilverNeedle Group to bring a new-build, 300 key Next Hotel to Melbourne as part of a AUD$110 million development at 80 Collins Street.
SilverNeedle Group Managing Director, Cameron Stewart, has welcomed the partnership with QIC.
“QIC is a visionary partner to help us drive the innovative Next hotel brand across Australia, and connect with customers that are looking for more than just another hotel,” he said.
“SilverNeedle is taking a fresh approach in the hospitality business and our ace card is our agility to bring change with immediacy.”
Next Hotel Melbourne, set to open in late 2018, will see 300 hotel keys added to the city, reflecting economic and tourism confidence coupled with stable investment opportunities in Australia, according to SilverNeedle Group’s Area Vice President of Business Development, Tushar Raniga. “This latest announcement adds to the recent portfolio deals signed in the last six months at approximately AUD$250 million, adding just over 766 room keys to its new build hotels,” he said.
QIC’s proposed development at 80 Collins Street will also deliver 45,000 square meters of commercial space, 9,000 square meters of retail space and aims to create a vibrant destination that embraces the history and character of the area while incorporating world-class modern features.