The Punvec Group are pushing ahead with plans to create a twin tower development in Adelaide CBD as the state's hotel sector picks up pace.
The South Australia Commission Assessment Panel gave approval to the Melbourne-based developer for two 19-level towers on 108 Franklin Street, the site of The Publisher’s Hotel.
The towers include 150 hotel rooms and 128 serviced apartments over a single podium containing a restaurant and retail space on a 2,112sq m site.
The design by Hassell will retain the majority of the existing brick-building facades at ground level along Cannon and Tatham Streets for the development which will have a height of 68-metres.
Adelaide's commercial building approvals are bucking the trend and continue to climb through the testing Covid-19 period.
The latest stats from the Commonwealth Bank show South Australian activity picking up from a lull in 2019 while the other states continue to fall.
There are also promising conditions for the residential and accommodation sectors with Adelaide recording some of the highest occupancy rates for the first eight months of the year.
South Australian building approvals steady in 2020
^Source: CBA, ABS (excluding residential, industrial approvals)
These trends are expected to continue with premier Steven Marshall declaring the state’s tourism and hotel industry was out of hibernation with triple the amount of interest seen on southaustralia.com compared to last year.
“What is even more exciting to see is that accommodation occupancy in our regions are reaching almost the same levels as this time last year–and that’s without international visitors and only some interstate.
“Some operators in the regions are reporting their ‘best winter trade ever’ and Adelaide hotels are also showing very positive green shoots.
“In the 36 hours immediately after the New South Wales border announcement, Qantas and Jetstar recorded 20,000 seat sales, and searches for South Australia on Expedia from NSW lifted 160 per cent,” Marshall said.
South Australia also ran a $20 million Great State Tourism Voucher campaign giving residents discount vouchers to holiday in the regional area.