Event brings QT hotel brand to Adelaide in $180m project
Event Hospitality & Entertainment’s highly successful QT hotel brand will make its debut in the centre of Adelaide in 2021.
The new 200-room hotel, the 11th QT hotel to be announced by Event, will be built at 62 Currie Street in a joint venture between ASX-listed developer Axiom Properties and the site’s owner, Auspac Networks.
Auspac Networks paid $6.05 million for the 1238-square-metre site in 2016 and then struck a joint venture development agreement with Axiom, which is backed by prominent WA developer Peter Laurance and his Pivot Group.
Event’s QT hotel brand which combines art, design and luxury, has been one of its most successful ventures, personified by the first such hotel, QT Sydney in the Gowings Building on George Street in the centre of Sydney.
Event will operate the new QT Adelaide under a management agreement.
The hotel will form part of a $180 million mixed-use development which will include 10 levels of office space.
The proposed development has yet to be approved with the joint venture partners due to submit their development proposal this month and commence a pre-leasing campaign for the office space.
Axiom said it was in advanced negotiations with an anchor office tenant and hoped to commence construction by the end of 2019 subject to it securing leasing pre-commitments and funding.
Event chief executive Jane Hastings said the new QT hotel filled a missing piece of Event’s portfolio and would be a “transformative project for Adelaide”.
QT Perth opened last year with QT Auckland due to open in 2020 and QT Parramatta in 2021.
Axiom Properties general manager Paul Rouvray said the company identified a gap in the lifestyle hotel sector in Adelaide and commenced a search for an international operator, with Event’s QT brand the standout.
