GURNERT & Qualitas submit plans for $450m build-to-rent precinct

Multi-billion-dollar developer GURNER™ and leading Australian alternative real estate investment manager Qualitas have submitted plans for their first Build to Rent development in Sydney, at 12 Hassall Street Parramatta, that will add $450million to their rapidly expanding GQ BTR portfolio.

The 2,049sqm site is being submitted for 385 apartments across a diverse product mix ranging from studios to three-bedroom apartments, and is being designed by internationally renowned architecture and interior design practice, PTW after a competitive design competition that was reviewed by the NSW Design Integrity Unit.

The building’s form has been imagined as a striking 61-storey tower with a 15 metre-high ‘crown’ sitting proudly atop the Parramatta skyline.

The building has been designed with an inviting ground floor plane that opens into a welcoming resident lobby framed by approximately 4,000sqm of commercial and retail NLA over four levels, alongside a café and co-working space.

Throughout the building, a substantial focus on luxury resident amenities and services will allow the GQ platform to deliver its signature amenity experience that will be unrivalled in Parramatta.

These amenities include a health and wellness sanctuary, gym, indoor lap pool and an expansive, sky-high rooftop pool and deck complete with sunken lounges on level 61.

The project is the first Build to Rent development assessed as a State Significant Development (SSD) application under the NSW Government’s Rapid Assessment Framework.

GURNER™ founder and director, Tim Gurner said “ The past three years have seen a period of rapid growth and expansion for our development business across the eastern seaboard of Australia as we look to capitalise on a range of opportunities in the Build to Rent space across the country.

“ This will be our first Build to Rent asset in New South Wales and the third in our fully-funded seed portfolio. We are astutely focused on NSW into the future and our aim is to grow a similar sized portfolio and team to our Melbourne office within the next 5 years.

“ This project will be a new beacon for Parramatta and bring a new level of luxury and exceptional service to the rental market that is unmatched throughout Sydney.

“ NSW is in critical need of quality rental stock, so we are confident in the Build to Rent model as a means of delivering this urgent stock to one of Australia’s most powerful rental markets,” Gurner said.


Sign up to receive our FREE
Weekly Insights Newsletter.

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

Check Also

Dexus Lowers Distribution Guidance as Interest Rates Impact

Dexus today announced that it had achieved Adjusted Funds From Operations (AFFO) and distributions of 53.2 cents per security for FY22, up 2.7% on the prior year but has lowered expectations for FY23 as interest rates begin to impact earnings.