Gaw Capital Partners has purchased Bell City, a mixed-use development for A$157 million ($113 million) in Melbourne’s Preston precinct through its funds under management and its hospitality arm, GCP Hospitality.
Bell City, located just 20 minutes from Melbourne Airport and the CBD, consists of two hotels totaling 844 guestrooms under the Mantra and BreakFree brands, a conference complex, commercial tenancies, a 600-space car park and serviced offices.
In response to the growing popularity of community living, GCP Hospitality will work to incorporate a “co-living” concept with vibrant social areas, a co-working hub, a state-of-the-art fitness center, in-vogue restaurants and bars, and an outdoor pool. Moreover, the group will roll-out its modern student-shared accommodation brand: Campus.
