The concept of spending the night at Bunnings is closer, with Accord Property Group securing MaxCap Group to help fund a hotel over a near complete warehouse in Melbourne’s east.
Mercure Melbourne Doncaster will contain 183 rooms over four floors, a restaurant, gym, rooftop pool and business centre with meeting rooms.
It will sit over the 2.5-level, 11,000 square metre hardware store, which straddles a double storey, 335-bay basement car park (124 spaces of which have been allocated to the guesthouse).
The end value of the hotel, due to open at the end of the year, is estimated at $68.5 million.
The Bunnings component, set to trade from October 1, is speculated to be worth $90m (story continues below).
“This will be a high-quality project for the eastern zone of Melbourne, “MaxCap chief investment officer, Bill McWilliams, said.
“The new Mercure Hotel will be very well located on a mixed-use development site situated in a tightly held eastern suburb with significant amenity,” the executive added.
“Once completed, the hotel will provide for views of the Melbourne CBD, Port Phillip Bay and Dandenong Ranges”.
The seven level project is taking shape at 659-669 Doncaster Road, abutting an entrance to Westfield Doncaster.