Mantra Group commits to unbuilt 11-storey Richmond hotel

EXCLUSIVE

Mantra Group has committed to occupy an unbuilt – and unapproved – 11 storey hotel in Melbourne’s inner-east Richmond.

Earmarked for 203-207 Bridge Road, behind the façade of two historic shops, the complex will contain 89 residential hotel rooms.

It will also provide guest amenities including a bar, kitchen, gym and function space.

The City of Yarra is reviewing the building application.

The 787 square metre plot was acquired in two parts by the Brady family’s Amber Property Group about two years ago.

Airspace behind these buildings is earmarked for a Mantra hotel.

Part of the Richmond parcel had been approved for a nine-storey residential building in 2013.

A year ago, Amber was promoting the proposed hotel on social media as a Mercure, a Sebel brand.

The block is immediately opposite a tram super-stop, which connects the site to the CBD and South Yarra.

Richmond has seen a wave of mid-rise buildings proposed, permitted and developed in recent years.

Another 11-storey building was approved for 243-249 Bridge Road. A ten-level structure was allowed at nearby 183-189 Bridge Road, while a 14-storey building is earmarked for 153 Bridge Road.

“The proposed [Mantra] hotel will provide high quality short-stay accommodation for visitors to Bridge Road, Richmond, and the inner city,” the planning application said. “Guests will benefit from the site’s proximity to the area’s major sporting, medical and retail attractions, such as the MCG, Epworth Hospital and Bridge Road shopping”.

Two basement levels would provide for car and bicycle parking. Floors nine and ten will be configured with super-sized suites.

An image used in a CBRE marketing campaign showing the location (highlighted) in relation to the Melbourne CBD.

“The hotel will have a 24-hour reception desk facing Bridge Road,” the applicant said. The restaurant will be open to the public, and trade between 7am and 11pm, except for Saturday and Sunday, when it is proposed to close at midnight.

The deal is the latest in a string of hotel lease commitments for the city.

Earlier this month we reported that Australia’s first 1 Hotel would open at Riverlee’s Northbank development at 731-739 Flinders Lane.

Another global hotel entrant – St Regis, which is controlled by Marriott – recently leased part of the Flinders Bank complex at the south-west tip of the CBD. Quincy Hotels also plans to operate from an as-yet-unbuilt 30-storey hotel mooted for 33 King Street.

Six months ago, InterContinental Hotel Group signed an agreement with Brady Group to occupy a 252-room inn, at 380 Lonsdale Street, for its high-end voco brand.

Last August, we reported Hyatt Centric had committed to an unbuilt 12-storey, 153-suite hotel, earmarked to be developed by the Alfasi Property Group at 2-10 River Street, South Yarra.

Hyatt Centric has also recently entered an agreement with Little Projects, to operate a 30-storey hotel at 27 Downie Street with 278 rooms.

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Marc Pallisco

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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