Gurner plans to build a $250-million, 40-storey apartment tower at Southbank, adding to its $7-billion pipeline and signalling confidence in a resurgent Melbourne apartment market.
An application has been lodged for 400 apartments on the 1652sq m site at 334 City Road in a joint venture with the Catalfamo family.
The proposal includes retail, a gym, and “Melbourne’s hottest new rooftop venue”, according to developer Tim Gurner.
The site had been home to Eve Nightclub. Architects Warren and Mahoney have been engaged to redesign the existing scheme for a mix of one-, two- and three-bedroom residential apartments across 40 levels.
“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,” Gurner said.
“We have recently submitted our revised scheme to council and will hopefully have approvals in the coming months with demolition starting this year.”
Gurner said his team were targeting the delivery of 10 projects per annum across the boutique, mixed-use and multi-tower divisions.
“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,” he said.
“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.”
Warren and Mahoney principal Nick Deans said the project would set the benchmark for luxury living at Southbank.
“The external façade of the building makes a bold statement, designed ‘in the round’ to ensure it delivers appeal from all aspects,” Deans said.
“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.”
Deans said his team had been working to prototype and implement the ‘Greener by Gurner’ sustainability goals of a carbon neutral development.
Gurner Group recently announced plans to build four towers up to 57 storeys on the Gold Coast in a $1.25-billion joint-venture with investment house Wingate.
The La Pelago development would have 889 apartments, a 200-key hotel in tower three, 2000sq m wellness club and 5500sq m of restaurants, retail and conferencing amenity on the 112 Ferny Avenue, Surfers Paradise, site.