PORT Adelaide is set to receive its largest major development for the first time in 45 years.
The $25 million development of the new Quest Apartment Hotel, to be being undertaken by the Smith Group, was launched today with construction to commence in the Fisherman's Wharf precinct.
"The new Quest Apartment Hotel will be a great addition to historic Port Adelaide, one of our city's great tourist experiences," says South Australian Premier Jay Weatherill.
"The Port is gaining momentum and this project is a significant step towards the area's transformation into a more vibrant precinct for locals and visitors."
Quest's Tony Gauci says the company's move into the Port reflects the company's strategy for expansion.
"Quest is committed to providing adaptable, superior accommodation options in locations with potential for strong growth and high traffic," Gauci says.
He says while the Port remains a hub of infrastructure in South Australia, Quest also recognises its tourism potential.
"With over 7000 industrial and commercial enterprises in the area and strong growth in the health care, defence, education and training, and retail industries, Port Adelaide is an ideal location for our seventh Quest property in South Australia."
Smith Group's Hans Ehmann says he sees Quest Apartment Hotel, located at 106 Nelson Street, bringing a much needed boost to the local area and would drive traffic to the historic shipping and industrial harbour.
"This waterfront development presents an opportunity to transform the area from a historic, industrial shell to a contemporary, multipurpose urban arena with a strong local economy and promising activity complex," Ehmann says.
"What's more, there are no developments of its size going on anywhere else in the state, making it the focal point for commercial growth."
Weatherill says he sees the hotel offering opportunities, both in terms of job creation and tourism, to the Port.
"People staying at these apartments will be able to soak in South Australia's colonial history, see dolphins in the Port River and experience the new weekend markets at Hart's Mill," he says.
"I congratulate Mr Ehmann, the Smith Group, and Quest on their investment, one that will create jobs and economic activity in the heart of our Port."
The hotel will feature 103 apartments over five levels and will have on-site parking, a conference room and gym.
Colliers International facilitated a pre-commitment from Quest for a 7200sqm apartment development.
Quest Apartment hotel is expected to open in September 2016.
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