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Mantra on Edward Brisbane - Lease Signing

Mantra Group has announced two new properties in its Brisbane network bringing the total to six hotels in the Queensland capital.

A unique opportunity to take on the lease of Observatory Tower, one of Brisbane’s landmark buildings on the corner of Wickham Terrace and Edward Street, will see the 24 level residential building converted to a full serviced apartment hotel.

Refurbishment of the first 50 apartments will be completed by September when the property will rebrand as Mantra on Edward Brisbane – the remainder of the 114 apartments will be completed by March 2015.

As the apartments were built with residential tenants in mind, their size is substantially larger than standard apartment hotel rooms, with two bedroom apartments up to 124 square metres and three bedroom up to 165 square metres, posing an attractive option for corporate and leisure travellers.

“This was a rare opportunity that will see us able to offer some of the largest rooms in Brisbane in a prime location,” said Mantra Group, CEO Bob East.

Originally constructed in 2005, owners Hertsorm and Jamoc Investments Pty Ltd awarded the lease hold to Mantra Group in an off-market transaction.

Mantra has also officially rebranded the former Diamant Hotel Brisbane – from 1 July the property will be known as Mantra Terrace Hotel Brisbane.

Comprising 84 stylishly appointed hotel rooms, the modern four star boutique property is located on leafy Astor Terrace just one kilometre from Brisbane’s CBD, making it a hotel of choice for both corporate and leisure travellers. The property also includes the stylish ‘O Bar & Restaurant’ on street level serving contemporary Australian cuisine and seasonal delights for breakfast, lunch, dinner and end of day cocktails and appetizers.

“This hotel is an exceptional offering in Brisbane CBD that we are pleased to have carry the Mantra name,” said East.

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