The Times Australia
Small Business News

.

Mantra Group to acquire the management rights for Southport Central

  • Written by Naomi Hammond



Leading Australian accommodation operator Mantra Group today announced it has executed an agreement to acquire the management rights for Southport Central, a large-scale permanent rental business on Queensland’s Gold Coast.

 

Located in Southport’s thriving business district and just 4.6km from the heart of Surfers Paradise, the acquisition of Southport Central will add 788 permanent letting apartments to Mantra Group’s portfolio which spans Australia, New Zealand, Indonesia and Hawaii.

 

Mantra Group CEO Bob East said the acquisition is in line with Mantra Group’s stated strategy to selectively grow its permanent rental business and the addition of the upmarket Southport Central is well timed to coincide with strong residential market conditions in the lead up to the Gold Coast 2018 Commonwealth Games.

 

“We’re very excited about this acquisition as it will open up additional growth prospects in the permanent rentals sector," he said.

 

"Southport Central is not only complementary to our existing portfolio, but also reinforces the strong momentum in our organic growth strategy and consistent ability to convert our pipeline.”

 

Blue Sky Private Real Estate investment director Andrew Lee said the sale to Mantra Group was a key part of Blue Sky’s accommodation strategy.

 

“Our strategy in this sector over the past few years has been to accumulate high yielding management contracts in favourable locations with upside rental and let pool potential. We purchased the Southport Central asset in 2014 following the announcement of a number of infrastructure projects in the local area and have since added a number of rooms to the let pool and driven rental growth in the backdrop of a growing Gold Coast market,” Mr Lee said.

 

“Mantra Group, a sector leader in the accommodation industry, was a standout choice for our sale of the asset, and provides a great outcome for our investors.”

 

The $700 million Southport Central project was developed by high profile Gold Coast developers the Raptis Group between 2006 and 2009 and comprises 788 stylish and contemporary residential apartments across three towers.

 

Two outdoor pools, an indoor pool, spa, saunas, steam room, two gymnasiums, multiple entertaining areas and secure basement car parking as well as access to Southport’s central business district, Broadwater Parklands and public transport are also offered by the property.

 

Mantra Group's permanent rental business will see one, two and three bedroom apartments let on a long term residential lease basis at Southport Central.

 

Mantra Group, the Gold Coast’s largest accommodation provider, has 23 properties on the Gold Coast (under the Peppers, Mantra and BreakFree brands) in Surfers Paradise, Broadbeach, Coolangatta and the Gold Coast Hinterland.

 

Mantra Group’s acquisition of Southport Central is scheduled to settle on 31 August, 2016 (subject to usual conditions).

 

Blue Sky Private Real Estate is a division of Blue Sky Alternative Investments (ASX: BLA).

 

About Mantra Group

Mantra Group is the leading Australian-based hotel and resort operator.  Mantra Group’s portfolio consists of 127 properties with more than 20,000 rooms in properties under management, across Australia, New Zealand, Indonesia and Hawaii. Operating three well-known and trusted brands – Peppers, Mantra and BreakFree - Mantra Group operates the second largest network of accommodation properties in Australia (by room number). The Group is positioned to offer both leisure and business style accommodation ranging from full service city hotels and self-contained apartments to luxury resorts and retreats. 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:

www.mantragroup.com.au; www.peppers.com.au; www.mantra.com.au; www.breakfree.com.au

About Blue Sky Private Real Estate

Blue Sky Private Real Estate is a division of ASX 300 listed Blue Sky Alternative Investments Limited (ASX: BLA), a leading diversified alternative investment asset manager. Blue Sky was listed on the Australian Securities Exchange in January 2012 and is the only listed fund manager in Australia focused on a diversified portfolio of alternative assets. Established in 2006, Blue Sky has generated strong returns uncorrelated with Australian listed equity markets. Blue Sky has offices in Brisbane, Sydney, Melbourne, Adelaide and New York, a team of more than 80 and a broad investor base including institutional, wholesale and retail clients. Alternative assets include direct investment in private equity, real estate, infrastructure, hedge funds and other real assets. For real-time company announcements, investment opportunities and investment performance, download the Blue Sky Fingerprint app from the App Store or Google Play.

www.blueskyfunds.com.au

Property Times

Rubber vs Concrete Wheel Stops: Which is Better for Your Car Park?

When it comes to setting up a car park in Perth, wheel stops are a small feature that make a big difference. From improving driver accuracy to preventing costly damage, the right choice between rubber and concrete wheel stops could save you time, mon...

What Is the Australian Government First Home Buyers Scheme About?

For many Australians, buying a first home can feel like a daunting task—especially with rising property prices, tight lending rules, and the challenge of saving for a deposit. To ease this burden, the Australian Government has introduced a First ...

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages and risks, and choosing the right one depends on your financial goals, ...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial intricacies of real estate demand more than just basic bookkeeping. A si...

Food & Dining

Not all processed foods are bad for you. Here’s what you can tell from reading the label

If you follow wellness content on social media or in the news, you’ve probably heard that processed food is not just unhealthy, but can cause serious harm. Eating a diet dominated by highly processed foods means you’re likely to consume more kil...

Italian Street Kitchen: A Nation’s Favourite with Expansion News on Horizon

Successful chef brothers, Enrico and Giulio Marchese, weigh in on their day-to-day at Australian foodie favourite, Italian Street Kitchen - with plans for ‘ambitious expansion’ to be announced in the coming months.  Italian Street Kitchen: A slice o...

Après Skrew: Peanut Butter Whiskey Turns Australia’s Winter Parties Upside Down

This August, winter in Australia is about to get a lot nuttier. Skrewball Whiskey, the cult U.S. peanut butter whiskey that’s taken the world by storm, is bringing its bold brand of chaos to Aussie shores with Après Skrew: a mash-up of alpine energy...

450 people queue for first taste of Pappa Flock’s crispy chicken as first restaurant opens in Queensland

Queenslanders turned out in flocks for the opening of Pappa Flock's first Queensland restaurant, with 450 people lining up to get their hands on the TikTok famous crispy crunchy chicken tenders. The highly anticipated opening comes after months of d...

Business Times

From Farms to Festivals: How Regional NSW Is Repurposing Shipping…

Regional NSW communities are repurposing containers for farms, tourism, and events Farmers and small businesses use them...

Nail it with points: Flybuys members can redeem points for instan…

Flybuys launches new in-store redemption at Bunnings stores across Australia Tuesday 19 August, 2025 – Flybuys, Australia’s ...

Understanding Energy Use Patterns by Season

Australia’s climate changes noticeably across the year. These seasonal changes don’t just affect what we wear or how we trave...

The Times Features

Wedding Photography Trends You Need to Know (Before You Regret Your Album)

Your wedding album should be a timeless keepsake, not something you cringe at years later. Trends may come and go, but choosing the right wedding photography approach ensures your ...

There’s a new vaccine for pneumococcal disease in Australia. Here’s what to know

The Australian government announced last week there’s a new vaccine[1] for pneumococcal disease on the National Immunisation Program for all children. This vaccine replaces pr...

What Makes a Small Group Tour of Italy So Memorable?

Traveling to Italy is on almost every bucket list. From the rolling hills of Tuscany to the sparkling canals of Venice, the country is filled with sights, flavors, and experiences ...

Latest data suggests Australia is overcoming its sugar addiction

Australia is now meeting the World Health Organization’s (WHO) guidelines[1] on sugar, which recommend keeping sugar below 10% of daily energy intake. New data[2] published ...

Do you really need a dental check-up and clean every 6 months?

Just over half of Australian adults[1] saw a dental practitioner in the past 12 months, most commonly for a check-up[2]. But have you been told you should get a check-up and c...

What is a Compounding Pharmacy and Why Do You Need One in Melbourne?

Ever picked up a prescription and thought, this pill is too big, too bitter, or full of things I cannot have? That is where a compounding chemist becomes important. A compounding p...