New 5-star hotel for Brisbane CBD
The Newman Government has finalised the sale of the former Brisbane Supreme and District Courts in George Street, allowing for the largest single development to date in the Brisbane CBD.
Housing and Public Works Minister Tim Mander said the Government had sold the site to the Shayher Group to redevelop into a mixed-use precinct including a 5-star hotel.
"The legal precinct in George Street has undergone a huge transformation in recent years with the completion of the eye-catching new Queen Elizabeth II Courts of Law complex which opened in late 2012," Mr Mander said.
"The redevelopment of the old site on the corner of Adelaide and George Streets will further rejuvenate the area and provide much needed 5-star accommodation for visitors to Brisbane.
"It is very rare that a site of this size that backs on to the Brisbane River becomes available for development.
"Shayher Group will commence early site works as soon as possible, creating approximately 5,700 direct and indirect jobs over the life of the project.
"When considered with the construction of 1 William Street, the redevelopment will add further stimulus to the construction industry."
Minister for Tourism, Major Events, Small Business and the Commonwealth Games Jann Stuckey said the significant CBD project again demonstrates how serious the State Government is about attracting investment to Brisbane.
"Earlier this year, the Newman Government and Brisbane Marketing released A Guide to Hotel Investment in Brisbane, and this project represents exactly the type of large-scale development we need," Ms Stuckey said.
"According to the guide, a shortage of Brisbane hotel rooms costs the local economy $136 million and 87,000 visitors every year.
"These are potential visitors who would otherwise be able to experience the diverse attractions of Brisbane and South East Queensland.
"Creating new hotel-style accommodation will be an important part of reversing that trend, with this project set to add 190 new rooms in a 5-star hotel."
As a requirement of the sale, developer Shayher Group was required to deliver a residential and serviced apartment tower with a gross floor area of approximately 65,000 square metres.
In addition, there will also be a commercial office tower of about 45,000 square metres.
Ms Stuckey said new hotels in Brisbane will help the State Government achieve its target of $30b in overnight visitor expenditure by 2020.
The soon-to-be redeveloped Supreme and District Courts Building in George Street was built in the 1970s, replacing the original building built in the 1800s which was destroyed by fire.
The original building was designed by the Colonial Architect, FDG Stanley and was built by the Petrie Construction Company in the 1870s.
Source: Accommodation Association of Australia, 21 May 2013
