The Gold Coast-based Singh family – a big player in the poultry industry – has diversified its investment portfolio after buying the 179-room former Pacific Hotel in Brisbane’s Spring Hill for $44.8 million.
He said the family was very excited to have brought Accor into the hotel as the operator and would undertake a “full upgrade” to bring the property up to the Mercure brand standard.“The Brisbane hotel market is still in its infancy, and we see a lot of capital growth to come,” Mr Singh said. The family has also submitted plans for a 15,000 sq m StoreLocal facility on the site of the former Goldsteins Bakery at 509 Olsen Avenue in Molendinar after purchasing the property for $6.2 million in late 2022.
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