This article is from the Australian Property Journal archive
DEVELOPER Gurner has made its first move into the Geelong market, snapping up a 2,100sqm land parcel in for development into a $300 mixed-use precinct, in partnership with Dean Montgomery.
Sitting 300 metres out from the Geelong Waterfront at 20-28 Brougham Street, the site which is currently occupied by a historic former wool store, is set to be transformed into a sustainable precinct.
With Fender Katsalidis on hand, the precinct, which will include the restoration of the heritage façade, will feature an activated ground plane, a hotel, urban gardens and luxury residential apartments above, targeting locals and downsizers.
Buyers are reassessing their lifestyle choices and are looking for affordable locations close to beaches with easy accessibility into the CBD, and Geelong ticks all those boxes and more,” said Tim Gurner, founder and owner of Gurner.
The project will see the establishment of a ground floor food and beverage offerings that will activate the area, linking the new council offices to Deakin University, all while targeting carbon neutrality through the developer’s Greener by Gurner initiative.
“We will be bringing an incredible 5-star hotel to this location, that will feature a retail and hospitality offering at the Ground Floor that will be reminiscent of Chelsea Market in New York,” said Gurner.
Gurner expects to lodge an amendment to the site’s current permit in late 2022, with the current permit including permissions for a 12-storey commercial building for around 26,000sqm of GFA.
“Regional tourism is set to flourish in the next few years, as holiday preferences change and regional destination such as Geelong continue to grow in popularity – the opening of new attractions, like the Spirit of Tasmania terminal in Geelong, will further drive this activity,” said Gurner.
While this marks Gurner’s first project in the Victorian city, the City of Greater Geelong recently announced Gurner and Montgomery on the shortlist with one other party for the redevelopment of Osborne House.
“Geelong has always been Victoria’s quiet achiever, but now with the renewed regional push as many families consider regional locations, I believe Geelong’s market run hasn’t really even begun yet,” concluded Gurner.
In February, Gurner was given the green light for his $1.75 billion ultra-luxe project, that is set to deliver four new towers, which will inject 900 new and 200 hotel suites to Budds Beach on the Gold Coast.
