After a two-and-a-half years, apartment developer, GURNER™ has officially unveiled the first two towers of its $600 million ‘FV’ this week, with founder Tim Gurner promising the project is “even better” than he had first envisioned.
Gurner revealed that an additional $8 million-plus had been spent to further upgrade the already luxury-appointed apartments, lobby and amenity area, in an effort to ensure this project would be “something Brisbane can be proud of for many years to come and push the limits of what is possible in apartment living”.
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“When we first unveiled our ambitious plans for FV, we had a lot of doubters and naysayers. People literally laughed at us and said we would never get the project off the ground.
“All that speculation just made us more motivated to deliver something truly incredible and special to the market, and I believe we have achieved that and more.
“Everything about this project, from the incredible lobbies, the FV Private Club over 2,500 sqm and 5-star resort-style service, through to the luxury-appointed interiors and striking façade, has been designed to raise the bar for luxury residential living in Australia.
“I am definitely a perfectionist so we spent many millions of dollars throughout the construction process to deliver even more value into the design by adding more luxury upgrades to ensure this project is nothing short of breathtaking. We are incredibly proud of the result and can’t wait to see what residents think when they begin moving in next month,” Gurner said.
In addition to the FV Private Club, estimated to have cost more than $20million, the developer also upgraded a number of inclusions and materials throughout the buildings, including upgrades for all owners to floorboards, the largest ever LifeFitness gym equipment order in QLD, a huge amount of extra landscaping, premium retail fit-outs, acoustic upgrades, and additional finishes throughout lobbies and amenity level plus many more surprises, all at no cost to purchasers.
Gurner said the upgrades would go a long way to ensuring that on completion, FV would be without parallel, signaling a new era for luxury design in Brisbane.
Designed by Elenberg Fraser, FV is set to play a pivotal role in the urban renewal of Fortitude Valley and in total across all three buildings, will deliver over 3,600 sqm of luxury retail, 4,300 sqm of resident amenity within the FV Private Club and 981 residential apartments over three architecturally distinct, world-leading buildings.
The first two buildings, Flatiron and Valley House, include 1,860 sqm of premium retail space and over 2,500 sqm of luxury communal amenity, including four pools – one of which stretches 65m around the nose of flatiron in a unique ‘U’ shape – a moonlight cinema, three VIP spa and dining areas, a commercial-sized Life Fitness gym and yoga studio, additional private dining spaces and resort-style sun decks, among other substantial amenity.
Construction first commenced in April 2015 with Brookfield Multiplex (now Multiplex) awarded what was at the time considered one of Brisbane’s largest construction contract, rumoured to be in the vicinity of $150 – $160million.
Construction across the first two stages has generated 550 immediate jobs and a further 2,000 jobs off-site.
Previous project milestones throughout the construction included GURNER™ signing Winning Appliances as the key anchor tenant, with the retailer moving from their existing Brunswick Street showroom into the brand new custom-designed 1770 sqm showroom housed in the dramatic apex of the triangular Flatiron building earlier this year.
GURNER™ also recently celebrated signing Mantra Group’s high-end Peppers brand as the sole management rights operator for the project in what represents the largest off-the-plan management rights deal in Australia to-date.
FV will be operated as FV Peppers Residences, a long-term apartment leasing and management facility that will offer tenants unparalleled resort-style amenity and services.
Mantra Group Chief Executive Officer Bob East said the opening of FV Peppers Residences heralds the arrival of the Peppers brand in Brisbane and will be the Group’s largest property in Australia.
“FV Peppers Residences will offer its residents luxury living spaces, facilities and services akin to an exclusive luxury resort,” said Mr East.
“Our property management team is already receiving an unprecedented level of enquiry for long-term letting at this property.
“It really is no wonder given the property’s sought-after vibrant inner city Fortitude Valley location and that residents will be able to enjoy an unparalleled lifestyle within the building.
“All long-term FV Peppers Residences tenants will also receive exclusive access to the Peppers Residential Rewards Program, providing access to Peppers’ renowned suite of select hotel-style guest services.”
Gurner said Brisbane remained a strong component of the developer’s portfolio and rebuffed claims that the local market was oversupplied.
“With so much pressure on house prices in Australia, Brisbane provides an incredibly affordable option for first home buyers and owners. With Brisbane now sitting around 50% more affordable than Melbourne and 60-70% than Sydney it is now something people just cannot ignore. With incredible weather, jobs and a real future Brisbane is now coming to fruition.
“People have been saying the Brisbane market is oversupplied for years, however for us to be able to sell all 981 apartments and deliver this project and now look to release a number of these apartments into the rental pool to a registration list that is already oversubscribed, all evidence points to the market being in very good shape as people look to upgrade from older, inferior apartments.
“FV is just the first of many projects we will deliver in Brisbane over the next five to 10 years so we look forward to playing an important role in the transformation of Brisbane’s skyline with quality, design-led, landmark buildings that will form part of the city’s design narrative for years to come,” Gurner said.
Flatiron and Valley House are now complete with residents poised to start moving into their new homes from early next month. The project’s third and final tower, ‘No.1’, is also under construction via builder ICON and is likely to reach completion by mid-2019.
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