ADABCO Properties has awarded Watpac the contract for the $32 million redevelopment of Adelaide’s historic Colonial Mutual Life building into a 4.5 star boutique hotel.
To be called the Mayfair Hotel, construction has started and is scheduled for completion in December 2013.
Watpac CEO Martin Monro said the contract was of particular significance to the company as it continued to expand its construction business in South Australia.
“We made our entrance into South Australia two years ago in a tight market and while the market remains challenging, we continue to see sound future opportunities in the state,” he added.
Located at 45 King William St, the Mayfair Hotel will comprise 170 rooms.
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