Aussie tourism and hospitality group Crystalbrook Collection has announced its intention to develop a fourth site in Cairns.

The new property, which occupies a prime location in the heart of the Cairns CBD, will include commercial facilities, a multi-level residence and a 3.5 star hotel.

Crystalbrook Collection Owner, Ghassan Aboud, who plans a visit to Cairns this week to inspect the site as well as oversee progress on the existing three Crystalbrook Collection developments, said he was pleased to be expanding his investment in the city.

“This is a great time to be growing in Cairns and a prime opportunity to diversify with the addition of commercial property as well as affordable accommodation,” he said.

The group’s CEO, Mark Davie, said at this stage the company was still determining time frames for the development: “We hope to be able to release full details on the complex to the public in mid-2018 and envisage construction commencing by the end of 2018. At this stage we are yet to establish a completion date.