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.