Plans for a $25 million hotel near Bundaberg Airport

AIMING HIGH: Developers behind a mooted $25 million, 120-bed hotel near the Bundaberg Airport hope to capitalise on the region's tourism.
AIMING HIGH: Developers behind a mooted $25 million, 120-bed hotel near the Bundaberg Airport hope to capitalise on the region's tourism. Mike Knott BUN301116AIRPORT7

A NEW $25-million, 120-bed hotel is in the works for Bundaberg thanks to an agreement signed this week between the new owner of the Brothers Sports Club and an emerging hotel operator.

Stronghold Investment Services said an agreement for lease had been reached with the Estilo Group for the construction of a hotel adjacent to the club on the corner of Takalvan St and Airport Dr.

Stronghold Investment Services negotiated to purchase the Brothers Sports Club late last year with settlement scheduled for early May.

The 8.1ha site currently includes a two-level sports club building, bowls club and bowling greens, netball courts, rugby and AFL playing fields and associated clubhouses.

Stronghold executive director and head of property Steve de Nys said it was a strategic investment in the Bundaberg region, and if approved, the hotel would add further value to the site and the local economy.

"There is a fair amount of precedent elsewhere of locating accommodation near entertainment precincts," he said.

"It ticks a lot of boxes."

The Estilo Management CEO Clifford Olson, part of the Estilo Group, is a new competitor in hotel development.

Mr Olson said the group were excited by the opportunity to build a hotel as part of an integrated entertainment precinct, located adjacent to a busy shopping centre and in a thriving regional area.

"We think there is a gap in the market that will benefit the local area," he said.

"We will throw it to tender at the appropriate time.

"We expect it will cost between $20million to $25million."

Under the agreement, the Estilo Group Pty will be offered a 99-year ground lease over 3200sqm of land on the Brothers site for the construction and operation of the hotel.

Mr Olson said once the development approvals were in place the hotel could be built in as little as 12 months.

Stronghold has opened its Stronghold Hospitality Property Trust No. 14 to wholesale investors with a minimum investment of $100,000 with applications closing on March 29.

The lease and subsequent construction of a hotel is subject to development approval from Bundaberg Regional Council.

Mr de Nys said the Bundaberg brand was probably the most famous regional city in Australia.

"Bundaberg punches well above its weight," he said.

To find out about investing in Stronghold Hospitality Property Trust No.14 visit www.strongholdinvest

Topics:  brothers sports club bundaberg airport bundaberg regional council estilo group stronghold investment services

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