Sydney investors bet big on Orange

By June 3, 2020June 9th, 2020New DAs, News

The Orange community will shortly welcome the city’s newest main street hotel development with a commercial value of over $35 million to the local economy.

The proposed development, features a 4 star 98-room international hotel, a family focused bar and brasserie, outdoor cinema and pool, alfresco dining and retail outlets to cater for both the community’s needs and visitors.

The proposed development comes in at a $25 million construction cost. The proposed site is located in the CBD located next to IGA Summer Centre carpark, fronting on Summer Street. The Development Application (DA) is expected to be lodged in the coming weeks.

PlansCo-owner of BMPS 88 Investments Paul Saunders believes this development proves how eager Sydney investors are to get into the rural market, even in uncertain times.

“The $35 million proposal comes at the right time as COVID-19 restrictions begin to ease and the tourism sector starts to get back on its feet. This proposal shows the potential pathway for future Sydney-based investors in rural New South Wales, injecting much needed funds into the Orange community.” Mr Saunders said.

“We fell in love with Orange right away. It is a town with great history, excellent food and extremely talented wine makers and we are really looking forward to working with the capable team at Orange Council to bring this great local gem to more Australian and international guests. “

Find out more about three motels proposed for Orange in this episode of ‘The Orange Podcast’:

Orange Mayor Reg Kidd has welcomed the proposed development and said he looks forward to seeing it make a mark in the centre of town.

“This development will be a game-changer,” Cr Reg Kidd said. “Orange is rapidly growing and it’s important we keep up with demand from the tourism sector. It will add a number of very appealing features to the top end of the CBD.”

“This proposal will be assessed on its merits like any other development. In due course, as part of the planning assessment, there’ll be opportunities for the Orange community to have their say about this major development.”

Plans

Orange City Council’s Economic and Employment Development Policy Committee Chair Cr Tony Mileto sees this project as an opportunity to entice travellers to come to Orange and spend their money in a rural location.

“This development will entice tourists to look toward rural travel. It is an exciting alternative to the mainstream metropolitan options, proving Orange is only getting bigger and better as new developments such as this continue to be developed,” Cr Tony Mileto said.

Orange 360 General Manager Caddie Marshall said she is pleased to see this proposal given that the Orange visitor economy is worth well over $300 million with 1.3 million visitors to Orange annually.

“This proposed development will compliment and extend our diverse tourism product offering and fill in a missing gap that will build our destination’s appeal to the family market,” Caddie Marshall said.

“We have a strong and growing sector of tourists who are visiting friends and relatives. More often than not they are looking for somewhere to stay other than the family home. This development and its location in the heart of Orange is ideal for this sector.”

The new Summer Street development is projected for completion in 2024.

UPDATE: The text of this article was updated 5.6.20 to include details of the DA lodgement.

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