QUEST Serviced Apartments says five new projects in the Perth metropolitan area will cater for increasing demand from corporate travellers, while at the same time more than doubling the group’s room numbers in Western Australia.
Quest has unveiled plans for two new properties in the CBD, to complement previously announced developments on Mounts Bay Road, in Rockingham, and in Fremantle.
The Perth properties are located on Adelaide Terrace, Kings Park Road and Mounts Bay Road, while the Rockingham property will be built on Flinders Lane. In Fremantle, Quest will partner with private equity firm Sirona Capital and Luke Saraceni’s Westbridge Property Group to deliver apartments on the corner of Pakenham and Short streets.
Construction has begun at Mounts Bay Road, Kings Park Road and Flinders Lane, while early works will start shortly in Fremantle, and construction will begin later this month on Adelaide Terrace.
Perth-based construction and development outfit Diploma Group will build the Rockingham, Adelaide Terrace, Fremantle and Mounts Bay Road projects, while the Kings Park Road apartments are being built by Pindan.
In total, the new apartments will add 489 rooms to Quest’s portfolio of nine properties in WA, including Bunbury, Mandurah, Scarborough, South Perth and Kalgoorlie.
Quest will have around 870 rooms in WA once the projects are completed.
Quest chief executive Zed Sanjana said favourable economic conditions in WA were the main driver behind the new developments.
“Demand for extended stay accommodation is currently exceeding supply in Australia, nowhere more so than in WA,” he said.
“The demand in the west is being primarily driven by the corporate market and we feel the time is right to capitalise on these strong economic indicators and push our growth, with five new developments under way to more than double our current room numbers.”