New 5-star hotel for Brisbane

Artist's impression of the new structure

The sale of Brisbane's defunct Supreme and District Court buildings has opened the door for the largest single development in the city's CBD.

The Queensland Government has finalised the sale of the site to the Shayher Group, who will construct a mixed use precinct that will also include a five-star hotel.

The new development will help the city address an accommodation shortfall that is hurting the local economy.

As part of the agreement, the Shayher Group is required to develop a 65,000 square metre residential and serviced apartment tower, while a 45,000 square metre commercial office tower will also be erected by the group.

According to [a Queensland Government guide] a shortage of Brisbane hotel rooms costs the local economy $136m and 87,000 visitors annually," Queensland tourism minister Jann Stuckey said.

Newly constructed hotels throughout Brisbane will help the State Government achieve its goal of $30bn in overnight expenditure by 2020, she added.

Source: Travel Weekly