A landmark six-star hotel proposed for the Adealide Riverbank Precint has already attracted international investor interest and is worthy of a global design competition.
Investment and Trade Minister Martin Hamilton-Smith said his proposal for a luxury hotel and indigenous art gallery, west of the Morphett St bridge, on land owned by the State Government would reinforce Adelaide as the Southern Gateway to the Outback and provide much needed high end accommodation.
The location is a unique opportunity for a statement international development within the Riverbank Precint to address a shortfall, highlighted by the Ashes Test, in our high-end tourism and business offering.
Over the past five years, the Precinct has been the beneficiary of significant public and private investment, with more than $4bn of infrastructure construction including the:
· Adelaide Oval Redevelopment
· Royal Adelaide Hospital (RAH)
· South Australian Health and Medical Research Institute (SAHMRI); and
· Adelaide Convention Centre.
Private investment in the Riverbank Precinct includes:
· $430m – Walker Corporation to redevelop the Adelaide Festival Centre Car Park and Plaza
· $206m – University of Adelaide to construct the Medical and Nursing School
· $100m – University of South Australia to construct the Centre for Cancer Biology; and
· $330m – SkyCity Adelaide 2020 Expansion including a luxury hotel.
With momentum generated by the significant investments listed above and more in the pipeline, the Precinct has become a significant public place in terms of its social, economic and cultural value as the city opens itself to the river and parklands. It attracts more than nine million visitors per year offering a diverse range of experiences that are uniquely South Australian.
Quotes attributable to Investment and Trade Minister Martin Hamilton-Smith
This is a perfect location for a six-star hotel given the new RAH, the Universities,
SA Health and Medical Research Institute, the attraction of the Adelaide Oval and the redeveloped Adelaide Convention Centre are all located within the Precinct.
The idea for a six-star hotel in the Riverbank Precinct was captured in the brochure prepared by IASA, to begin the discussion with investors during overseas business missions and to attract their interest in the Precinct and in building a six-star hotel.
With tourism to South Australia booming and new business growth and investment in the state, the one offering South Australia lacks is an ultra-luxury six-star hotel to meet the demands of these markets. This proposal addresses this shortfall.
The vision is to build a luxury six-star hotel that creates a highly noticeable landmark destination in Adelaide, one that becomes an attraction in itself. The hotel building will be branded as a:
· striking skyscraper with breathtaking unrivalled views, a prominent feature of the Adelaide skyline
· gateway to the outback
· attraction in its own right, where people will travel just to stay there
· building that will put Adelaide on the map and on par with hotels like the Shard in London and the Burj Al Arab in the United Arab Emirates; and
· focal point for the new central business district (Riverbank Precinct).