A new apartment and 4.5 star hotel tower has been approved for the Fortitude Valley. The site is located on Brunswick Street, between Robertson and Arthur Streets. The project which is called ‘The Dunmore‘ is being developed by Vintage Property and managed by Mantra.
It is believed that the hotel will be managed under the Peppers name. All apartments in the project will be sold fully-furnished, with room rates expected to achieve $190 per night upon opening.
The hotel will have several tenancies on ground level as well as a rooftop bar and conference area. Buyers of The Dunmore will be offered a 6% net rental return for the first two years as a way of showing confidence in the project’s potential. Apartment owners will also be offered seven days free use of their apartment each year, another perk for potential investors.
One and two bedroom apartments are on sale starting at $376,000 for a one bedroom apartment.
3 comments
#1oiksterJanuary 23, 2012, 12:34 pm
The returns are unreal, and the building itself is absolutely beautiful. I love these lower set buildings, they feel very homely and warm. Nice , and exactly what i will be looking for as a investment property.
#2newfarmdamoJanuary 23, 2012, 9:38 pm
Surely Brisbane can do better than this cheap design with a few bits stuck on for interest. The active street frontage is about the only thing its got going for it except that it also looks like its got a dirty big driveway on Brunswick St……with the lane/easement at the back of this site, why isnt all the servicing from Robertson and Arthur?
#3nathandavid88January 24, 2012, 10:38 am
The laneway at the back of the site isn’t large enough to accommodate two-way traffic, and would be too narrow for MRV-sized vehicles to use for that matter. And as it’s a hotel, it does need a porte-cochère of some description. So basically they’ve opted to have the carpark and porte-cochère entrance off Brunswick St and exit via the lane and onto Robertson, while the larger MRVs enter and exit off Brunswick due to their size.
I quite like this, and it’s position could really help with the urban renewal of the Valley Heart precinct!
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