WATPAC WINS AIRPORT CONTRACT
Written on the 19 March 2015
WATPAC Limited (ASX: WTP) has been awarded the Brisbane Airport contract for $78 million to go towards building two new hotels and a conference centre.
Brisbane developers Flynn Property Group and Scott Flynn Properties have signed off the contract for the construction of their $150 million hotels and conference centre development.
The development will feature Accor-branded 5-star Pullman Hotel (artist impression pictured) and 3.5-star Ibis Hotel, and the Brisbane Airport Conference Centre.
The Pullman will be Brisbane Airport's first 5-star hotel and the first purpose-built, branded 5-star hotel constructed in Brisbane in over a decade, while the Conference Centre will be capable of hosting up to 600 delegates at a time.
Flynn Property Group managing director Anthony Flynn says the project will set a new benchmark for the region.
"Not only is this $150 million development the biggest third part project ever undertaken at Brisbane airport, it's arguably the best hotel opportunity on the east coast of Australia," says Flynn.
The development is set on 7,826sqm of real estate in the Domestic Terminal Precinct on Dryandra Road and will include a mix of 373 suites and 1735sqm of conference, meeting and event space.
Construction on the new facilities, which will be exposed to more than 22 million passengers annually, is expected to create an estimated 1000 jobs between May 2015 and April 2017.
Flynn Property Group and Scott Flynn Properties, headed by two brothers respectively, already have a stake in the airport precinct through Novotel Brisbane Airport which they opened in 2009.
"The addition of our internationally recognised Accor-branded 5-star Pullman and 3.5-star Ibis hotels to the existing 4-star Novotel Hotel, will mean Brisbane Airport will have the full spectrum of full-service branded hotel accommodation options covered, from quality affordable to upscale international," says Flynn.