—MEDIA RELEASE—
Today, local property developer Creative Property Holdings (CPH) has unveiled plans to deliver a five-star design hotel in Launceston’s CBD at 41-55 Paterson St.
The vibrant local precinct will consist of a 190 room hotel and supporting hospitality, business and education facilities. The 2,850 square metre site will include 400 square metres of street front food and beverage retail space.
It will be constructed at the Paterson Street car park site in partnership with an iconic international hotel partner, to be announced at a later date.
The proposed development is supported by a syndicate of local Australian investors and is consistent with State Government’s 2030 Visitor Economy Plan, which has a clear purpose to enhance Tasmania’s appeal as a year-round destination and grow the financial contribution of visitors to Tasmania.
The hotel will support increased tourism to Launceston and surrounding areas, giving visitors choice of a design hotel in a central location. The hotel will be thoughtfully curated to offer guests an immersive experience, where they can retreat, recharge, and find inspiration in both the hotel’s unique architecture and the captivating natural and built environments of Launceston and the broader northern region.
Managing Director of Creative Property Holdings Chris Billing says he is looking forward to bringing the world-class asset to Launceston:
“We believe a hotel of this size and international stature will be a game-changer for the Launceston CBD, supporting tourism demand and increasing visitor spend in the city and surrounding areas.
“Over the past seven years, Launceston has significantly trailed behind Hobart in terms of new high-quality hotel rooms, adding only one-fifth of the new rooms that Hobart has introduced.
“With major events set to grow, including more AFL and VFL content, it’s important Launceston has the accommodation and choice of designer amenity, to meet the demand.”
“As born and raised members of the Launceston community, we are passionate about transforming the city into a more vibrant visitor, education and business hub to facilitate economic growth and diversified job opportunities for local residents.”
Creative Property Holdings has partnered with architect Telha Clarke to lead design of the project, with Tasmanian project management firm Skyscape leading the project.
Once in operation, the hotel will significantly boost the local accommodation and food services sector, directly employing approximately 130 people and contributing around $76 million to the local economy each year. During the construction period, the hotel is projected to support 348 direct and indirect jobs and contribute over $212 million to the local economy.
CPH will submit its formal development application to Council in the coming months and continue engaging with the community on the details and merits of the project. CPH anticipates construction will commence in second half 2025 subject to timely regulatory approvals.
“We believe the private sector has a very significant role to play in facilitating economic growth and opportunity for Tasmanians, alongside government and industry partners.
“Not only to do we need to attract visitors, but we need to retain and support local residents through job creation, local amenity and opportunity – particularly as recent research states there was a net population loss of 2,600 people in Tasmania last year.
“We look forward to continued engagement with Launceston Council, residents and education providers around the opportunities associated with the hotel and how it can uplift economic stimulus in the broader Launceston economy.”
Chief Executive Officer of the Launceston Chamber of Commerce Alina Bain supports the project saying it will elevate Launceston to new economic heights.
“The Launceston Chamber of Commerce supports projects which generate demand and revenue for our businesses and industry,” says Bain.
“The Chamber encourages a culture of courage for Launceston and the region; the Paterson Street development fits the bill. It is an exciting and innovative approach that will breathe life into not only the Paterson Street location, but the Launceston CBD generally.”
“The increase in foot traffic, revenue and demand will bring increased economic activity to Launceston’s CBD and a capital injection to our local economy. The new dimension to our creative communities and culture is an exciting prospect.”
