Approval has been granted for Elanor Investor Group to build a new 142-room hotel in the South East Queensland town of Moreton Bay. The regional council gave the green light for the group's proposal to build the eight-storey hotel in the Bluewater Square Shopping Centre complex, citing that the hotel will benefit the growing tourism sector in the industry. Elanor Investor Group acquired the property in 2017.
The hotel includes a rooftop bar, a function area, and dining facilities for locals and guests. A swimming pool with views of Moreton Island is also included in the plans. Modern art and fixtures will adorn the exterior of the hotel.
In a statement, Elanor Investment Group said that this would significantly impact the local area.
"The proposed short-term accommodation, function facility and bar utilise the existing shopping centre while incorporating uses that will be highly beneficial to the local area."
As of 2009, the group manages real estate investments across New Zealand and Australia to the tune of $2.7 billion. Local Mayor Peter Flannery added that the ASX-listed company had signalled confidence in the area with the hope of further investment.
"The Moreton Bay region is one of Australia's largest and fastest growing areas," Flannery said.
Moreton Bay has a greater population than Canberra, with another 200,000 residents expected to move to the region over the next 20 years.
The billion-dollar tourism industry in Moreton Bay has been boosted in recent years, with over four million annual visitors, double that of other areas in South East Queensland, such as Noosa on the Sunshine Coast. Moreton Bay aims to build eight new hotels in the next decade, with 1035 hotel rooms needed by 2032 in the lead-up to the Brisbane Olympic Games.
"To help us, we're providing hotel investors and developers with incentives and a dedicated concierge service to make investing in Moreton Bay as easy as possible."
