Veriu is to open its first South Australian property, Veriu Adelaide, in 2024.
Partnering with Pelligra Group, this innovative project will involve the transformation of over 5,000 sqm of office space into a modern 111-key hotel. With a mix of self-catering studios, meeting facilities, a gym, and more, Veriu Adelaide is set to provide a home away from home for business travellers, tourists, and students alike.
Adelaide is a major economic and business hub, making this hotel well-positioned to cater to corporate travellers. Simultaneously, the hotel will welcome the growing number of domestic and international visitors who come to the city for its festivals, events, and conferences. With the presence of esteemed universities, the property is also poised to attract international students, academics, researchers, and faculty members.
The decision to readapt existing underutilised office space hit hard by the pandemic for apartment hotel accommodation, rather than undertaking a totally new build, was a logical one for CEO Zed Sanjana.
“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 a growing demand for quality CBD accommodation. We are delighted to be partnering with the Pelligra Group on the first of hopefully a number of future opportunities together,” said Sanjana.
The project will also represent a compelling proposition for Pelligra Group, which has come to the project with a well-established track record of delivering high-quality commercial, hotel, industrial and residential projects in both Australia and the Asia Pacific region.
Pelligra chairman, Ross Pelligra, said that partnering with Veriu Hotels and Suites to deliver this landmark mixed-use development was exciting.
“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 Group sees the benefits as a long-term asset owner as well as those for our office tenants of providing convenient and important amenities to 80 King William Street through securing a hotel operator like Veriu with a proven track record and a guaranteed long-term lease structure,” said Pelligra.
This announcement was made after an eventful year for Veriu, which saw the opening of Punthill properties in Essendon North and Parramatta, the launch of Veriu Collingwood in Melbourne, and the initiation of construction on multiple sites across Victoria, NSW, and the ACT.
More upcoming announcements on further projects have been teased for the coming months.
