Luxury property developer Gurner has announced an international expressions of interest campaign for the sale of the management rights to its iconic $600 million ‘FV’ development in Brisbane’s Fortitude Valley, in a deal that represents one of the largest sale of management rights in Australia.
The 5-star management rights offering is expected to include letting agreements to the majority of the project’s 900+ apartments, providing for a range of accommodation options, together with associated freehold real estate.
The offering also includes management of up to 4,000 sqm of commercial space and leisure facilities comprising proposed multiple food and beverage premises, conference and business facilities, concierge, housekeeping and maintenance areas, numerous pools, private spa areas, a gymnasium, private dining and casual dining and moonlight cinema.
Gurner has appointed Resort Brokers Australia’s national sales manager, Trudy Crooks, and off-the-plan management rights specialist, Tim Crooks, to manage the sale, with expressions of interest set to launch both locally and internationally next week.
“FV is one of the first truly luxury mixed use retail and residential sites in Australia of this scale, and one that mirrors the international luxury resort models from around the world,” Gurner founder and director Tim Gurner said.
“Over the past two years we have been approached by many of Australia’s largest management rights operators, and since construction commenced we have also been approached by a number of major international brands to express their interest in the site.
“I believe they see this as a very unique opportunity and one that will help bring Brisbane’s vision to become a new world city to life,” Gurner said.
“The management rights offering will include the opportunity to purchase and manage over 900 sqm of ground level retail, café and restaurant space which is a substantial opportunity in itself, not to mention the 5-star letting operation and additionally the servicing of over 900 pre-sold apartments.
“From the outset our vision has been to create a luxury five-star experience akin to some of the world’s finest resorts; the management operator is a key part of this offering, allowing residents to experience the luxury and services of a resort from their own home,” he said.
The three-tower project features a total of 3,000sqm of private amenity; complete with multiple pools including a feature U-shape pool and bar in the Flatiron building and amazing rooftop pool in the No. 1 building, a number of bars, private dining areas, cinema facilities, a gym, yoga studio, business club and conferencing and much more.
Inspired by luxury Maldives and Bora Bora resorts, the third building includes an exclusive 788 sqm rooftop lounge including an expansive pool wrapping around half the building, an underwater lounge area, water feature, sundecks, bars and barbecue areas.
Construction of the project’s first two stages, ‘Flatiron’ and ‘Valley House’ is currently underway, with these stages slated to reach completion in mid 2017. Construction of the third tower is anticipated to commence in November 2016.