MANTRA'S $140M DOCKLANDS SEASONING
Written on the 13 August 2015
DOCKLANDS is a step closer to welcoming another five-star high-flyer to its skyline.
Mantra Group (ASX: MTR) has at last revealed the room prototype for the waterfront's first five-star hotel, Peppers Docklands Melbourne (pictured right).
The hotel is the centrepiece of the 19-level M Docklands development which is being undertaken by Capital Alliance Investment, on track to open early 2016.
The development is costing $140 million, up $40 million from its annnouncement in 2013, and will include 87 hotel suits, 186 residential apartments and 11 retail shops.
Mantra Group CEO Bob East says Docklands is ripe for the luxury Peppers brand to take its shore.
"Docklands is in need of a sophisticated hotel product to cater to an increasingly selective global market that is looking for quality, location and facilities of a world class calibre," says East.
"Peppers Docklands has this, and will set a benchmark for future mixed-use developments in Australia."
Founder and managing director of Capital Alliance, Mohan Du, says the details of the development are on trend.
"Docklands offers world class facilities and attractions with demand for hotels projected to increase significantly; this growing demand is behind the re-emerging trend from developers to incorporate hotels into their projects," says Du.
Peppers Docklands will join 10 Mantra apartment hotels in Melbourne CBD and the airport.