Mantra Group opens eight new properties across its three brands
The first quarter of FY16 saw Mantra Group opening eight new properties across its three brands, adding more than 1,700 hotel rooms and apartments to its portfolio.
Mantra Group has acquired the Management and Letting Rights, plus associated real estate, for the Towers of Chevron Renaissance, in Surfers Paradise. Settling on 17 September, 2015, the acquisition saw Mantra Group acquire the exclusive on-site management of the building’s 711 apartments, which are spread across three high rise towers.
Now branded Mantra Towers of Chevron, the property joins Mantra Group’s 22 existing Gold Coast properties, operating under the Mantra, Peppers, and BreakFree brands from Tweed Heads to Surfers Paradise.
Mantra Group also acquired the Management and Letting Rights, plus associated real estate, for Brisbane city’s M on Mary. Positioned on Mary Street, in central Brisbane, the 43-storey M on Mary was constructed in 2007 and comprises a total of 367 spacious, self-contained, one and three bedroom apartments, plus a range of guest facilities.
Upon settlement, on 1 November 2015, Mantra on Mary will open as Mantra Group’s eighth Brisbane property.
Mantra Group has secured the leasehold for a new Mantra branded full-service hotel, in Canberra city. An existing 10 level office tower, located on the corner of Northbourne and McCarthur Avenues in the inner city suburb of Turner, will be converted into a 176 room hotel, as part of a new master planned mixed-use precinct.
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