Developed in partnership with Pelligra Group, Veriu Adelaide is one of the group’s first office conversions and will see the transformation of over 5,000sqm of vacant office space into a 111-key modern apartment hotel.
Veriu Group CEO Zed Sanjana said existing underutilised office space provides a logical opportunity for reinvention.
“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,” he said.
“We are delighted to be partnering with the Pelligra Group on the first of hopefully a number of future opportunities together.””
Located at 80 King William Street in the heart of Adelaide’s CBD, the hotel is expected to appeal to solo and group travellers for both business and leisure.
The light-filled, self-catering apartments – a mix of modern studio, interconnecting studios and one-bedroom suites – will include a fully-equipped kitchen, desk and fast, high-quality internet, while guests will also have access to conference and meeting facilities, a gym and laundry.
Pelligra Group Chairman, Ross Pelligra, described the project as a “landmark mixed-use development”.
“Our plans to integrate the upscale Veriu Hotels and 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,” 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.”
To date this year, Veriu Group has opened Punthill properties in Essendon North and Parramatta, its second Melbourne Veriu property, Veriu Collingwood, and has commenced construction on various other sites in Victoria, NSW and the ACT.