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05 Sep 2007 - Australia
Fraser Place Sydney & Fraser Suites Perth announced as Fraser Suites Sydney opens
Singapore, 05 September 2007 – Frasers Hospitality (Frasers) opened its first gold standard serviced residences in Australia today. At the same time, it announced that two more would be added over the next three years.
Designed by world-renowned British architects Foster and Partners, Fraser Suites Sydney is an iconic 42-level glass tower located in the heart of Sydney’s business, shopping and entertainment hub with a superb view of the Darling Harbour. The A$105 million Fraser Suites Sydney is majority-owned by Frasers Hospitality.
Even as it opens today, Frasers announced that construction plans are being finalised for a second development in Sydney – Fraser Place Sydney – and one in the Western Australia capital of Perth. Both are Greenfield projects and mixed-use developments; and both are owned by Frasers Property, the Australian property investment arm of Frasers Centrepoint Ltd, of which Frasers Hospitality is a wholly-owned subsidiary.
“We are very excited about the prospects in Australia,” says Mr CHOE Peng Sum, Chief Executive Officer of Frasers Hospitality. “Australia has seen strong and steady economic growth over the last decade. It registered real GDP growth of about 3.5 per cent last year and growth is forecast to continue at 3.25 per cent per year to the end of the decade.”
Besides being very involved in global business – resulting in international travel for business – there is also a strong domestic business travel market in Australia. “Our residents comprise business executives on medium- to long-term projects and short-term travellers on leisure,” said Mr Choe. “These are the discerning travellers who appreciate our brand of lifestyle service in exclusive residences, with space for work and comforts of a home.”
Fraser Suites Sydney has 201 units ranging from studio, one- and two-bedroom apartments and spectacular duplex penthouses. Each comes with a fully-fitted kitchen, washing machine and dryer and customised living spaces. Every apartment is also equipped with broadband Internet, workstation as well as state-of-the-art flat screen TV and home entertainment system.
The serviced residences is part of a mixed-use development called Lumiere at Regent Place which also has a 56-storey residential tower and a shopping mall slated to open in early 2008. It is conveniently situated in the historic Town Hall precinct and offers panoramic views of Darling Harbour, Sydney’s favourite waterfront dining and entertainment quarter.
Soft-opened late last year, Fraser Suites has been warmly welcomed by the market. “After just six months, our occupancy is already past 60 per cent while the average occupancy for such a new project would be 30 to 40 per cent.”
With this strong reception of the Frasers brand, plans are going full throttle on the next two Australian developments. The second Sydney property is a 5.8 hectare plot just a 5-minute walk from the Central Railway Station. The development will have 235,000 sq m of floor space: approximately 60 per cent for residential apartments and 40 per cent commercial and retail space.
The project in East Perth – called Queens Riverside – will be built in two stages, featuring 288 luxury apartments as well as Fraser Suites Perth. It will also feature a food street, retail and commercial office space.
The Lord Mayor of Sydney, (Ms) Clover Moore was the guest-of-honour at the official opening of Fraser Suites Sydney.
About Frasers Hospitality (formerly known as Fraser Serviced Residences)
Frasers Hospitality commits to “meeting the unique needs of the executive travellers through continuous innovation”, and providing its customers with the space, family and community away from home. Conceived with the lifestyle preferences of today’s discerning extended stay executive travelers in mind, Frasers Hospitality has three brand offerings – Fraser Suites, Fraser Place and Fraser Residence.
About Frasers Centrepoint Limited
Mr Ronald Wong
Ms Sandra Tan
Awards & Accolades
Best Serviced Apartment Vendor of the Year 2007
Excellence Service 2007
Associate of the Arts Awards 2006 - 2007
China's Best Business Hotels (Top 25 Serviced Apartments in China) 2007
Best Service Residence (Property) Award 2007
Best International Brand & Best Luxury Serviced Apartments Award 2007
CitiBusiness-SPBA Regional Brand Award 2006
Singapore Promising Brand Award – Gold Award 2004 - 2006
Excellent Service Award 2004 – 2006
People Excellence Award 2006
Singapore Service Class 2004 -2005
The Fraser Collection