A luxury hotel for Chadstone
The Chadstone retail precinct is about to get a new kind of development to its portfolio: a $130 million, 13-storey hotel.
This is all consistent with Chadstone’s model of being an ever-evolving shopping zone.
Construction work on the 250-room hotel begins next year.
The opening date is set for late 2019.
It will be a significant addition for Chadstone which is ranked as Australia’s number one retail destination, boasting 23 million visitors a year.
Work has just finished on the $660 million retail development with its office tower now being fully leased out.
Chadstone’s co-owners Vicinity Centres and Gandel Group see a hotel as the logical next step as an estimated 350,000 of those 23 million visitors are international tourists.
Added to that is the proximity of Chadstone to two Monash University campuses. The hotel could attract relatives and friends visiting students at the university.
Vicinity Centres executive general manager and head of development, Carolyn Viney says the hotel development has been on the drawing board for some time.
“We see that Chadstone is evolving to become the hub of a new CBD,” Viney told Broadsheet. “We have quite a significant office space as part of our precinct and to add in accommodation really does solidify us as a complete precinct.
“We expect demand for the hotel will be driven by business travellers, tourists and visitors to both Chadstone and offices of the 17 international and national businesses located on site, as well as the nearby Monash precinct employment hub.”
“As we see our Australian cities evolve, it is not surprising we are seeing offices, hotels and apartments co-located together in large pieces of land like Chadstone. It is replicating that mini CBD where all those things combine together, and therefore limits the need from, especially those business’ and big large medical and educational institutions, to have to travel to the CBD.”
The hotel will be managed by Australia’s largest hotel operator Accor Hotels under its MGallery by Sofitel brand and it will feature health and wellness facilities (including a spa, pool and gym), conference and meeting room, two restaurants, a lounge bar and a ballroom for up to 400 people.
by Leon Gettler, December 19th 2017
