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Geocon Wins Approval for $120m Garema Place Hotel

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Developer Geocon has received the green light for its 11-storey Garema Place hotel development in Canberra’s city centre.

Construction on the luxury hotel, set to be the city’s first luxury mixed-use building, will now kick off this year after being approved by the ACT Planning Authority.

The developer reworked its first proposal, which initially involved 16-storeys but was met with opposition, reducing the $120 million project's height to 11-floors.

The approval includes the 11-floor hotel that will include 212 rooms, a rooftop pool and bar, a ballroom, commercial office space, and a restaurant and café precinct on the ground floor.

Related: Quiet Achiever: Canberra’s Residential Market

▲ Canberra City Luxury Hotel, at 60-70 Bunda Street and adjoins Garema Place, is approved for next step in development.
▲ Canberra City Luxury Hotel, at 60-70 Bunda Street and adjoins Garema Place, is approved for next step in development.


Geocon managing director Nick Georgalis says the latest approval is inline with the company’s plans to bring a series of five-star hotels to Canberra, following Geocon's agreement with Marriott last year for the $200 million Midnight hotel planned for inner city suburb Braddon.

“This new approval allows us to move onto the next piece in our plans, the Canberra City Luxury Hotel at Garema Place,” Georgalis said.

“These two hotels will complement our future hotel plans – West Block in the Parliamentary Triangle... [as] well as our fourth luxury hotel in the Kingston Arts Precinct, a project we have partnered with the ACT Government to deliver.”

Geocon purchased the Garema Centre building for $13.35 million in September 2017.

Demolition of two existing commercial buildings on the site will now take place, while construction of the hotel is planned to be underway by the end of 2020, with the hotel fully operational by 2022.

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Article originally posted at: https://theurbandeveloper.com/articles/geocons-garema-place-hotel-approved-planning-authority