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Luxury hotel chain Banyan Tree purchases additional Gold Coast site in Surfers Paradise

A LUXURY hotel chain has acquired three blocks on the Surfers Paradise Esplanade with plans to build a mammoth beachfront resort.

Banyan Tree development site at the Northern end of the Esplanade in Surfers Paradise. Picture Nigel Tod.
Banyan Tree development site at the Northern end of the Esplanade in Surfers Paradise. Picture Nigel Tod.

LUXURY hotel chain Banyan Tree’s love affair with the Gold Coast has become a $50 million one — and it is yet to lay a brick.

The Singaporean group, which in January bought the Bahia apartment tower, has quietly added adjoining building Beach Lodge to its Surfers Paradise holdings.

The addition of the 24-apartment Beach Lodge has given Banyan Tree a 4413sqm development site across the road from the beach on The Esplanade and with a frontage to Surfers Paradise Boulevard.

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In May last year, they took its first step into the Gold Coast by paying a record $11.5 million for 971sqm on the northern side of Bahia and unveiled plans for a five-star hotel.

Banyan yesterday was not commenting on its amalgamation of Beach Lodge, which is on a 1368sqm site, or its plans for its vastly-enlarged holding.

One observer said the 20-year-old chain had enough land to build either one large hotel or two towers.

Banyan Tree, after its May purchase, said it planned a luxury hotel with serviced apartments.

They would be under the group’s latest brand, Cassia, which also was to be used for a Brisbane project.

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Original URL: https://www.goldcoastbulletin.com.au/realestate/luxury-hotel-chain-banyan-tree-purchases-additional-gold-coast-site-in-surfers-paradise/news-story/f14e0b23c3c96a091dad3b3a7f416c5a