Melbourne apartment towers look to hotels for facilities boost
Melbourne apartment complexes could increasingly partner with hotels to give residents five-star luxury inclusions in the aftermath of COVID-19.
Development firm Capital Alliance’s chief executive Mohan Du says while tourism is expected to bounce back after the pandemic, it will be more difficult for hotel companies to get finance for new sites in the post-virus world.
After eight years pairing with hotels, he believes operators will look to residential developments for new footholds.
“I think hotels will definitely consider it,” Du says.
“There’s a good synergy between the hotel and the residences, and I think Melbourne is still a good market for hotels.”
That would be good news for the city’s downsizers looking for a lock-up-and-leave address with all Melbourne has to offer on the doorstep.
Such buyers have dominated at The Docklands Residences, which will also feature a Marriott Hotel.
Many of them have amalgamated multiple luxury apartments for floorplans spanning an average 180-200sqm.
Du is confident most plan to embrace local eateries rather than cooking at home, with 70% opting for a layout that has a kitchen designed with dining rather than cooking in mind.
Five-star hotel amenities at the project include a rooftop pool and bar, as well as room service and concierge access.
The Docklands precinct now features cinemas and a brewery as it transforms from a CBD-sideshow to a suburb in its own right.
“It’s not a finished picture yet, but it’s already looking pretty good,” Du says.
The Docklands Residences project is under construction, with about 25 apartments still for sale.
Remaining one-bedroom apartments are priced from $703,500-$745,000, two-bedroom floorplans are $1,023,750-$1,160,250 and three-bedroom apartments are $1,711,500-$4,450,000.
This article from The Herald Sun originally appeared as “The Docklands Residences: Hotels could find new homes in apartment towers”.