Punthill Apartment Hotels has announced plans to develop its first new property under the ownership of Veriu Hotels & Suites, delivering on the national expansion commitment foreshadowed by Founders Alex Thorpe and Rhys Williams under the leadership of newly appointed Chief Executive Officer, Zed Sanjana.
The announcement follows the signing of a Heads of Agreement with Alpha Partners, a leading boutique property investment and development firm based in Melbourne.
Part of the much anticipated “The Village Alphington” project on the former site of the Amcor Paper Mill, this project is expected to be a transformational mixed-use development for the inner North-Eastern suburbs of Melbourne, with the construction of a retail centre, supermarket, village square, school, commercial office tower, 3 residential towers as well as the 79-key Apartment Hotel complex to be operated under the Punthill Apartment Hotel brand.
Set to open its doors in 2022, Punthill Alphington will offer stylish fully-furnished and self-contained apartments ranging from Studio, One, Two and Three Bedroom Apartments, all including fully-equipped kitchens, along with on-site conferencing, gymnasium and other amenities.
Punthill Alphington, a short 6km drive to Melbourne’s CBD, is well situated to take advantage of the key corporate catchment areas of Preston and Heidelberg as well as nearby medical and university precincts within the broader area. With the success of its recent opening of Punthill Ivanhoe in July of this year, the Group has made the decision to add further inventory to its portfolio within the locality.
Sanjana said, “The Australian Accommodation market has been consistently undersupplied for a number of years, particularly in terms of more upscale and design-driven apartment hotels in key suburban and regional markets. We believe that business travellers are increasingly looking for more unique and localised accommodation experiences within these corporate hubs.”
Veriu Group Chief Executive Officer Zed Sanjana said the deal marked the beginning of the Group’s plans for significant expansion of its Veriu and Punthill portfolios throughout Australia. “Punthill Alphington is the first of a number of new hotel announcements that we expect to make over the coming 6 months, with a further 3 greenfield projects set to be announced in Melbourne alone.”
These announcements are set to include bringing the successful Sydney-based Veriu Hotels & Suites brand to Melbourne. This news comes off the back of the announcement earlier in the year of the construction of Veriu Green Square, set to open in June 2022, a 144-key Apartment Hotel building developed by Veriu through a joint venture with Charter Hall.
Sanjana continued, “Our network roll-out is focussed on bringing more unique and interesting accommodation options to CBD, suburban and key regional markets, in locations underpinned by the business travel segment, supported by business parks, industrial parks, universities, hospitals and major infrastructure projects, Alphington is a great example of this.”