The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailStaff WriterFri 21 Nov 14

GURNER™ Sets Record With 93% Apartments Sold in 12 Weeks

G

Melbourne-based property developer,

GURNER™ has ignited the Brisbane property market with 607 of 651 apartments sold at its landmark ‘FV’ development in just twelve weeks since the initial launch. To date over 93 per cent of the apartments in Flatiron and Valley House have been sold, representing a combined market value of over $300 million.

With the project’s first building, ‘Flatiron’, receiving unparalleled attention from the local market, GURNER™ fast-tracked the release of the second building, ‘Valley House’, after just three weeks in order to meet demand for what is going to become Brisbane’s most Iconic development.

The developer has now released the final Platinum Collection of apartments which represent the most premium 50 apartments situated in the upper and middle levels of each building, providing choice and flexibility for interested purchasers.

GURNER™ founder, Tim Gurner, said sales had exceeded his expectations with enormous interest received from the local owner occupier and investor market.

“The project’s sales rate has been absolutely astounding – I can honestly say I’ve never seen anything like it in Australia," he said.

“We had two consecutive weeks where the team sold over 180 apartments per week, and many weeks where we have done between 50 to 100 deals.

“We have now sold in twelve weeks what we expected to achieve in twelve months. It’s been absolutely phenomenal and a credit to

360 Property Group and our the entire project team."

RELATED ARTICLE: GURNER™ Secures Approval For $600m FV Project In Fortitude Valley

Mr Gurner said the demand from the local market in particular has completely blown the company away.

“Roughly 25 per cent of the project’s sales so far have come from owner occupiers who have all targeted the higher priced apartments featuring incredible views of the Brisbane River, Story Bridge and CBD. This figure sits directly in line with Fortitude Valley’s suburb demographic profile which suggests 75 per cent of all dwellings are rented," he said.

“Furthermore only 12 per cent of FV has been sold offshore to date which is absolutely unheard of with a project of this scale and a huge testament to the entire project team."According to Mr Gurner, buyers have ranged from first home buyers purchasing $360,000 apartments through to downsizers and executive purchasers snapping up one of the coveted multi-million-dollar penthouses.

"All four penthouses have now sold, achieving prices of $1.45m, $1.55m, $1.7m, and $1.8m respectively, representing a rate per metre of over $15,000 which is a figure usually only achieved in the more established luxury markets of Melbourne and Sydney,” he said.

Mr Gurner said the project’s early success reflected the project’s attention to detail and unique product offering.

“In today’s competitive market there is no margin for error. From the design, branding, marketing and location through to a well thought-out product mix, sales strategy and even building the right sales team who believe in the vision, everything has to be perfect - and even then it’s still difficult given it’s such a competitive market," he said.

“With FV we worked with Elenberg Fraser to create a project that will become one of Australia’s best developments and certainly an international icon for Brisbane’s skyline. We then created an unparalleled amenity offering which includes the FV Private Club, to deliver an experience unlike anything else like it in Brisbane."Mr Gurner says GURNER™ sees Brisbane as one of the most dynamic markets in Australia thanks to its property and population growth forecasts, the continued investment into infrastructure and the urban renewal of some of the city’s key suburbs.

"Brisbane is the only market in Australia currently returning rental yields of around six percent, and its median house price is projected to grow by 17 per cent over the next three years.

“FV is located in one of the most up-and-coming locations in the heart of Fortitude Valley, which is just 400 metres from the CBD offering the combination of nightlife, culture and an emerging café scene. It can only be compared to Melbourne’s St Kilda or Sydney’s Woolloomooloo – two of Australia’s hottest property markets.

“It’s no wonder the local market has been so quick to capitalise on the launch of Flatiron and Valley House, as it offers a truly unique point of difference,” he said.

The project’s first building, ‘Flatiron’ - inspired by New York’s iconic slender building of the same name - features a sweeping bronzed building sitting atop an elevated landscaped podium offering a striking curved façade reminiscent of New York’s Broadway strip.

The second building, ‘Valley House’, is a sculptural marvel, with five star resort-style facilities and a 25-level vertical garden cascading down the curvilinear façade.

GURNER™ now plans to bring FV’s third and final building to market early next year, which will be targeted towards local owner occupiers and downsizers.

This final building will also deliver a premium retail precinct at ground level with a level of luxury akin to Brisbane’s Emporium precinct and a new cultural offering reflective of Brisbane’s celebrated James Street precinct.

The FV display suite is located at 147 Alfred Street, Fortitude Valley and is open by appointment only.

ResidentialAustraliaConstructionReal EstateConstructionSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
The two towers, of 35 and 34 storeys, help cement the SA capital’s growing status as the best place in Australia for the…
LATEST
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/gurner-sets-record-with-93-apartments-sold-in-12-weeks