Quest Apartment Hotels has boosted its westward expansion with a second property added to its WA development pipeline, Quest Perth Ascot. Upon its completion, Quest will offer 15 locations across the state of Western Australia.
Located on the Great Eastern Highway, 112 rooms will service business travellers in the industrial precincts of Kewdale, Bayswater and Belmont.
Nearby investments in public infrastructure, commercial property, Perth Airport and the Belmont Park Redevelopment will continue to attract business travellers to the precinct.
Quest General Manager – Growth, James Shields said Quest Perth Ascot draws on the network’s key strength.
“Our hotels are designed for regional and suburban centres. The City of Belmont is a gateway for business travellers in Western Australia and the state’s growing economy is attracting more interest from our corporate clients.
“The nearby Ascot Racecourse also contributes to the local tourism industry through its popular spring racing carnival, driving the demand for short and extended-stay accommodation.
“We look forward to launching our premium serviced apartments mid next year in partnership with M/Group,” Mr Shields said.
Quest Perth Ascot is the second Quest hotel developed by M/Group, an integrated property organisation that manages more than $185 million of investor funds.
The first property, Quest Joondalup raised more than $7 million in private capital and is scheduled to open in November this year.
“Quest Perth Ascot is one of several property funds M/Group has successfully subscribed, largely due to a group of investors that now follow our projects based on our capacity to deliver,” said Lloyd Clark, Managing Director of M/Group.
“It’s difficult to dispute the investment potential and returns of a project that has a long-term lease agreement with a multi-national operation, as well as an independent valuation uplift created through the development delivery process.”
Quest Perth Ascot is one of eleven new Quest properties opening across Australia and New Zealand over the next two years.
Other upcoming properties include Goulburn (NSW), Joondalup (WA), Robina (QLD), Preston (VIC), Ballarat Station (VIC) Takapuna (NZ), Hastings (NZ), Christchurch – Cambridge Terrace (NZ), Mt Maunganui (NZ) and Mount Eden (NZ).
Located on the Great Eastern Highway, 112 rooms will service business travellers in the industrial precincts of Kewdale, Bayswater and Belmont.
Nearby investments in public infrastructure, commercial property, Perth Airport and the Belmont Park Redevelopment will continue to attract business travellers to the precinct.
Quest General Manager – Growth, James Shields said Quest Perth Ascot draws on the network’s key strength.
“Our hotels are designed for regional and suburban centres. The City of Belmont is a gateway for business travellers in Western Australia and the state’s growing economy is attracting more interest from our corporate clients.
“The nearby Ascot Racecourse also contributes to the local tourism industry through its popular spring racing carnival, driving the demand for short and extended-stay accommodation.
“We look forward to launching our premium serviced apartments mid next year in partnership with M/Group,” Mr Shields said.
Quest Perth Ascot is the second Quest hotel developed by M/Group, an integrated property organisation that manages more than $185 million of investor funds.
The first property, Quest Joondalup raised more than $7 million in private capital and is scheduled to open in November this year.
“Quest Perth Ascot is one of several property funds M/Group has successfully subscribed, largely due to a group of investors that now follow our projects based on our capacity to deliver,” said Lloyd Clark, Managing Director of M/Group.
“It’s difficult to dispute the investment potential and returns of a project that has a long-term lease agreement with a multi-national operation, as well as an independent valuation uplift created through the development delivery process.”
Quest Perth Ascot is one of eleven new Quest properties opening across Australia and New Zealand over the next two years.
Other upcoming properties include Goulburn (NSW), Joondalup (WA), Robina (QLD), Preston (VIC), Ballarat Station (VIC) Takapuna (NZ), Hastings (NZ), Christchurch – Cambridge Terrace (NZ), Mt Maunganui (NZ) and Mount Eden (NZ).