Singaporean-backed Park Hotel targeted for Adelaide

Development company LGB Australia and Singapore-based Park Hotel Group are teaming on a proposed hotel in Adelaide, Australia's central business district. The 30-story hotel and apartment development has been proposed for the old State Bank building on Pirie St.

The $175-million development, Park Hotel Adelaide, is currently in its nascent stages still, according to the Herald Sun. It would include 250 hotel rooms, 280 residential apartments, cafe, bar, gym and an open air sky-deck with a pool.

LGB Australia CEO Raymond Chia said the proposed development on Pirie Street was its first project in the Australian hotel sector.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.

"Park Hotel Adelaide marks a significant milestone for Park Hotel Group and if approved, will inject new job opportunities and investment into South Australia," he said.

He said LGB Australia would continue to identify new investment and development opportunities in South Australia, and would bring a group of international investors to the state in September.

Park Hotel Group chief executive officer Allen Law said his group had long been looking to expand into Australia.

"Adelaide has experienced a massive expansion in its convention facilities, the medical precinct, Riverbank and Adelaide Oval developments. Increased flight connectivity, a strong events calendar and continued growth of the Asian markets, will also drive record visitor numbers. We are extremely optimistic about Adelaide’s tourism prospects," he said.

If approved, construction is expected to begin in 2017 and be completed in 2018.