Gurner to launch into Perth apartment market with high-end Nedlands precinct
GurnerTM is now operating in four states, having secured a prime development site in Nedlands, an affluent suburb on the outskirts on Perth.
In partnership with Geelong's Costa Property Group and Grange Development, GurnerTM, led by Tim Gurner, will be creating a $500 million ultra-luxury precinct on the 6,000 plus sqm site at 97-105 Stirling Highway.
There will be around 275 high-end apartments built, which will be delivered in stages of 60-100 residences per stage. The precinct will also feature 3,500 sqm of commercial, entertainment and retail space, as well as world-class health and wellness offering in what is fast becoming GURNERTM’s signature.
The site is one of the most significant regeneration precincts in Nedlands and will include an activated ground plane with public laneways and a plaza, communal lounges, a rooftop pool, garden and deck, children’s play areas, and large landscaped balconies which are staggered to create double-height volumes and improve access to natural light.
The team at GURNERTM is currently making changes to the existing permit to create a true Town Square and public realm across the ground level and first floor. Elenberg Fraser, the architect that led the original scheme, will be retained.
The area’s median house price of $1.91m makes it one of Perth's top-five most expensive suburbs, according to REIWA.
The two original developers and GURNERTM will share a 50-50 split in the project.
Tim Gurner said the team are excited to announce their first major development in Perth.
"It’s a market we believe has incredible potential, particularly in the next five to 10 years, as it continues to mature from a mining city into an economic powerhouse," Gurner said.
“We have had our eye on the Perth market for over eight years now, waiting for the right opportunity – we wanted our first site to be an iconic project of significant scale in a prime suburb, so we could set the tone for future expansion in Perth.
“The site’s current tenants, including Porsche and Bentley, exemplify the same level of ultra-luxury that GURNERTM is so renowned for. We look forward to bringing our sought-after owner-occupier product to the premium Nedlands locale, where there is limited supply.
“The site is a strategic play that will be launched when the market allows it to – with construction pricing such an issue in Perth at the moment, we will wait for the right time to ensure we can offer a superior product to the market.”
The announcement follows an unprecedented year of growth for GURNERTM, who has stormed into the NSW and QLD markets in 2021 with acquisitions across Sydney, Parramatta, Gold Coast and now Perth.