Veriu Group is ready plant a flag in regional Victoria for the primary time with the opening of an condo resort within the fast-growing metropolis of Shepparton late subsequent yr.
Development commenced on Punthill Shepparton this week, with Kim O’Keefe MP, State Member for Shepparton and the city’s Deputy Mayor, Anthony Brophy, becoming a member of Veriu Group executives and CEO, Zed Sanjana, native developer Terry Sofra and Valeo Development’s Jim Tzouvelis, and visitors for a sod-turning ceremony.
The 107-key condo resort can be positioned inside Wyndham Road’s Shepparton Artwork Museum precinct, which has lately undergone a serious transformation as a part of the Better Shepparton Metropolis Council’s give attention to city renewal.
“Strategically we’ve all the time sought to develop the Punthill portfolio by opening in places supported by main sources of company room night time demand,” mentioned Veriu Group CEO, Zed Sanjana.
“Whereas Shepparton has traditionally been undersupplied by way of high quality prolonged keep lodging, it’s a key regional centre which is continuous to learn from sustained non-public and public funding.
“In keeping with the Victorian Authorities, the Goulburn Valley can also be forecast so as to add 5,400 new jobs by 2027, rising to round 19,450 by 2034 all of that are drawing extra company guests and companies to the realm.”
“Alongside this, a rising variety of regional sporting occasions, festivals and cultural actions like exhibitions on the Shepparton Artwork Museum, in addition to current and proposed points of interest are persevering with to ship a sustained uplift in vacationer visitation, additional strengthening demand for high quality quick and extended-stay lodging.
“We’ve already constructed a really profitable enterprise primarily based on our prolonged keep lodging mannequin underneath each our Veriu Inns and Punthill Residence Lodge manufacturers. We all know that Punthill Shepparton will fulfil an actual want for each company and leisure travellers, and it’s been a key issue driving our resolution to open a property right here.”
The property will function a mixture of absolutely self-contained fashionable studio, one-bedroom and two-bedroom flats, every with its personal balcony, a totally geared up kitchen, desk, Good TV, quick, high-quality web and in-room laundry services, in addition to entry to convention and assembly services, safe on-site parking and a gymnasium.
“Punthill Shepparton will set a brand new benchmark for regional lodging, combining premium condo services with the flexibleness enterprise and leisure travellers want,” mentioned Sanjana.
“That is an funding not simply in a resort, however in Shepparton’s ongoing progress as a vacation spot of alternative for guests and companies.”
Developer Terry Sofra mentioned, “We’re proud to be investing in our neighborhood and contributing to what can be a key piece of infrastructure for Shepparton to help its future.
“It would present a big enhance to native tourism, the economic system, and the broader neighborhood.”
Valeo brings greater than three many years of expertise in delivering high-quality mixed-use developments.
“Working alongside Sofra Group and The Veriu Group, we’re combining confirmed building experience with a shared imaginative and prescient to ship a landmark growth that may actually increase the bar for the area,” mentioned Valeo Director, Jim Tzouvelis.
With bold plan to develop to 80 motels nationally, the addition of Punthill Shepparton brings Veriu Group to a complete of 5 websites underneath building with Veriu Adelaide (SA) Punthill Ryde (NSW), Punthill Epping (VIC) and Veriu South Yarra (VIC) nicely underway and anticipated to open between mid-2026 and 2027.
