Quest Apartment Hotels continues its expansion across Australia, after securing the lease terms for its newest property at the Epping Plaza Shopping Centre in Melbourne.
CBRE Hotels’ Senior Director Scott Callow negotiated the lease agreement for the development of Quest Apartment Hotels’ newest project on behalf of the Pacific Group.
The new hotel will include 96 rooms and be leased to Quest Apartment Hotels as part of its continuing growth strategy into metropolitan areas identified to be currently underserviced by new apartment hotel accommodation.
Fronting Cooper Street, the new hotel is positioned to benefit from the surrounding retail precinct, which is rapidly evolving to service Melbourne’s fast growing northern corridor.
The hotel is also located adjacent to the Northern Hospital, as well as close proximity to Melbourne’s newly opened wholesale fruit and vegetable market. It is also located within easy access to Tullamarine Airport via the Metropolitan Ring Road.
Mr Callow said the lease agreement highlighted confidence in Melbourne’s hotel market.
‘’The ongoing strength of the Melbourne hotel market in the CBD and city fringe is flowing into certain key growth corridors, of which Epping and Melbourne's north are prime examples.”
Courtesy: CBRE Media Centre