Mantra Group to operate Melbourne’s $1 billion M-City

Mantra Group to operate Melbourne’s $1 billion M-City

Australian-based hotel and resort management company, Mantra Group has signed up to operate the hotel and letting apartment component of Saraceno Group’s $1 billion mixed-use development in Clayton, in Melbourne’s south-east, about 20 kilometres from the CBD.

The development is the largest ever undertaken in the city, says Mantra, and includes a range of residential, hotel and serviced apartment accommodation as well as retail, entertainment and commercial facilities.

The full-service hotel and apartments component of the development, to be known as Mantra M-City, is expected to be completed in late-2020.

The 10-storey hotel will include 250 hotel rooms, conference and meeting facilities, a restaurant and bar, and onsite car parking.

Adjacent to the hotel tower, a further 180 serviced studios, comprising one-, two- and three-bedroom apartments, will also be operated by Mantra Group.

M-City has attracted significant interest from buyers with the first residential tower selling out within 2 weeks of launching and second residential tower selling 70 per cent within the first four weeks to market.

The third and final tower is expected to launch shortly.

M-City is expected to deliver a total of 643 apartments, up to 60 specialty stores, 17,330 square metres of office space and 1905 car parks for a total of population of about 4,000 residents, workers and shoppers, reports The Urban Developer.

“In addition to its established corporate and leisure travel drivers, the suburb of Clayton will continue to benefit from ongoing urbanisation,” said Mantra Group CEO Bob East.

“Melbourne’s annual calendar of international and domestic sporting, cultural, and convention-based events is also a proven contributor to the greater Melbourne region.”

The Saraceno Group teamed up with private developer Schiavello earlier this year after announcing the group was looking for a joint venture partner for the mixed-use project in 2014, notes a separate reports in The Urban Developer.

Schiavello and the Saraceno Group will retain the non-residential assets.

The development will also include an independently operated commercial fitness centre and swimming pool accessible to hotel guests.

Clayton is a major Australian tech hub—home to one of Monash University’s (Australia’s largest university) major campuses, Monash Medical Centre, the Australian Synchrotron along with excellent restaurants and shopping, such as Chadstone Shopping Centre, Westfield Southland and sporting facilities.

The Mantra Group currently owns and operates 129 properties with more than 22,000 rooms in properties under management across Australia, New Zealand, Indonesia, and Hawaii. The Group successfully listed on the ASX in June 2014 and in its first year as a public company was elevated to the ASX 200.