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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: