Australia: Developer Harry Triguboff has a acquired a AUD$23 million Canberra site for his Meriton Suites aparthotel brand.
The move marks the company’s first foray into the Australian Capital Territory, where it will build a 17-storey, five-star aparthotel in the city’s CBD.
The site, a six-storey office building tenanted by the Australian government, was purchased in an off-market deal from the Australian Unity Property Income Fund.
Meriton Suites operates 19 aparthotels and 4,644 self-catering suites across Sydney, Brisbane and the Gold Coast, making it one of the country’s largest owner of hotel rooms.
Triguboff, 86, said the move into Canberra was a logical progression for Meriton Suites: “Canberra long has been on our radar because it’s drawing nearly three million visitors a year. Many people going there are on business, often politics related, and visit for multiple nights.”
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