GURNER™ adds another $250m Project to its $7bn pipeline

Multi-billion-dollar property and lifestyle developer GURNER™ has added another $250 million to its growing $7billion pipeline with the acquisition of a 1,652sqm site at 334 City Road, Southbank, for a 40-level tower featuring retail, a gym and 400 apartments.

The scheme, which will be a joint venture with the Catalfamo family, will also include what Tim Gurner refers to as ‘Melbourne’s hottest new rooftop venue’ in a celebration of the building’s past.

The site, once the home of the infamous Eve Nightclub, and more recently operating as a hostel, already has an existing permit in place.

GURNER™ has appointed long-time architect collaborators Warren and Mahoney to redesign the scheme within the existing envelope, which has been re-submitted for council approval with plans for 400 one, two and three-bedroom residential apartments over 40 levels, along with a ground floor retail provision.

As has become the developer’s signature, the project has proposed plans for a unique amenity offering including a health and wellness precinct, a two-storey gym, a communal dining, cinema and entertainment precinct, dog wash and dog run, along with rooftop facilities.

The project will form one of the developer’s landmark mixed-use developments as it increasingly looks to add more projects of scale to its pipeline in line with GURNER™’s strategic outlook across a multi-faceted build-to-sell, build-to-rent, hospitality, wellness and lifestyle portfolio.

GURNER™’s Tim Gurner said “ This site is strategically located in the heart of the southern entertainment precinct within proximity to Crown Casino, South Melbourne and the Arts Precinct.

” We are increasingly building a portfolio of larger mixed-use projects where we can incorporate our wellness and concierge services as a longer-term play, and this project perfectly fits that model.

“ Southbank is going through a renaissance of sorts with an increasing number of restaurants, bars and entertainment precincts while offering proximity to the best parts of Melbourne’s CBD, it allows us to do something special that will add to the flavour of the area while bringing our signature luxury approach to residential living.

“ We have recently submitted our revised scheme to council and will hopefully have approvals in the coming months with demolition starting this year,” he said.

“ We have been planning and preparing for this very deliberate growth period methodically over the past 36 months and the business has never been in a better position to support this acquisition phase.

“ I believe this next property cycle will move quickly and it will be critical to swiftly capitalise on the economic recovery period we are currently experiencing, underpinned by what I am forecasting will be significant movement and migration from overseas from 2022 onwards.

“ Over the past eight years we have added a huge amount of experience within our team and our strategic finance partners, and we are now looking to deliver approximately 10 projects per annum across our boutique, mixed-use and multi-tower divisions,” he said.

Warren and Mahoney principal Nick Deans said 344 City Road’s architectural design deliberately sets out to establish a new level of luxury living in the Southbank precinct.

“ Warren and Mahoney was pleased to be awarded this prestigious project following a highly competitive pitch and to further deepen our relationship with the team at Gurner. We’ve been collaborating for close to ten years and this incredible tower is just another great chapter in our strong and evolving relationship.

“ The external façade of the building makes a bold statement, designed ‘in the round’ to ensure it delivers appeal from all aspects.

“ With its defined crown structure atop of the building, the tower is a symbolic piece of architecture that will be highly visible on the skyline of Southbank and contribute to Melbourne’s broader city-scape. And those living there will enjoy uninterrupted views of the CBD and back to Port Philip Bay.

“ We’ve also worked closely with the Gurner team to prototype and implement the ‘Greener by Gurner’ sustainability aspirations for a carbon neutral development – a standard we’d like to see across the board.”

Bookmark
close

Sign up to receive our FREE
Weekly Insights Newsletter.

We don’t spam! Read our privacy policy for more info.

About Warwick Petschack

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

Check Also

10 Sustainability Initiatives in Property

We are keen to support Sustainability initiatives in the property sector and with a myriad of acronyms, organisations and options, we thought it would be useful to maintain a register of go to resources for organisations to make better decisions about sustainability.

Intro: Urban Innovation & Foresight

Welcome to our Urban Innovation & Foresight series, where we will unpack a range of forces which will shape the way we use our urban areas over the next decade.

Weekly Update 25/10/2021

Welcome to this week’s Property News. Capital support for Major Shopping Centre investments has clearly …