Australia’s newest hotel developer, Crystalbrook Collection, has confirmed its intention to develop a fourth site in Cairns, which is to include commercial facilities, a multi-level residence and a 3.5-star hotel.
The complex will occupy a prime location in the heart of Cairns CBD between Grafton St and Lake St, two blocks from The Esplanade and within easy walking distance of the city’s top restaurants and attractions.
Crystalbrook Collection Owner, Ghassan Aboud, who plans a visit to Cairns this week to inspect the site as well as oversee progress on the existing three Crystalbrook Collection developments, said he was pleased to be expanding his investment in the city.
“This is a great time to be growing in Cairns and a prime opportunity to diversify with the addition of commercial property as well as affordable accommodation,” he said.
Crystalbrook Collection CEO, Mark Davie, said at this stage the company was still determining timeframes for the development.
“We hope to be able to release full details on the complex to the public in mid-2018 and envisage construction commencing by the end of 2018. At this stage we are yet to establish a completion date,” he said.