This article is from the Australian Property Journal archive
WITH approvals now in hand, developer Gurner is set to launch the first stage of its $1.7 billion private island resort-inspired project on the Gold Coast, La Pelago.
The joint venture project, between Gurner and investment house Wingate, comprises a four-tower master plan inspired by exclusive Archipelago resorts.
“La Pelago represents the latest investment for Wingate across a track record of almost 20 years. We believe that the offering is unique to the Gold Coast and represents a unique investment opportunity,” said Mark Harrison, managing director at Wingate Property.
“Wingate sees the La Pelago and joint venture with GURNER™ as a strong alignment between our two brands, with a longstanding and discerning commitment to quality and longevity.”
Launching to the market later this year, Resort Residences, the first stage of the project, will span the first 28-storeys of the project’s first tower, the $1 billion 65-level Aquia.
“We have made the brave call to launch the project amid the current global uncertainty due to huge interest and demand from our sophisticated investor database and past clients who can see through the next few years and are very excited by the fundamentals of the Australian property market and especially the Gold Coast,” said Tim Gurner, CEO at Gurner.
“With now almost no supply in the pipeline for Gold Coast due to construction pricing, but with demand still incredibly strong, our sophisticated investors know that in 2-3 years we will be in a rental crisis that will push rents and therefore pricing to a level not seen before.”
The project will be architecturally designed by Warren & Mahoney, with interiors by Gurner’s in-house design team let by Simon Brugaletta and 12,00sqm of landscaping by SWA.
Amenities will include lagoon pools, with private bookable lounges and private dining areas, cabanas, sundecks, swim-up bars and restaurants across a three-level resort podium.
“Everything about La Pelago represents a relentless pursuit of perfection and point of difference. We have scoured the globe to uncover the world’s very best examples of private resort living, bringing everything together into one private sanctuary,” added Gurner.
The Resort Residences will include one-, two- and three-bedroom residences ranging from 60sqm to 200sqm and priced from $525,000 up to $1,800,000.
“We have already experienced an overwhelming level of enquiry while we finalised our permit and architectural planning earlier this year so we don’t expect this first release to be on market for any period of time,” said Evan Cathcart, general manager of sales at Gurner
The tower will also include a lobby featuring a Porte Cochere entrance and a private concierge with valet parking.
“We want La Pelago to be the defining destination of the Gold Coast, not just known for its architecture and amenity, but the experience from the moment the valet first opens your car door, through to the designer retail precincts and sky-high restaurants that will be the name on everyone’s lips when they launch to the public,” said Gurner.
This on top of Aquia housing a yet-to-be-announced global hotel brand, potentially with circa 185 rooms across levels 29 to 42.
“We have been overrun with interest from local owner occupiers, lifestyle buyers and investors from all across Australia. It’s still early days but we believe this will sell incredibly well and quickly based on the level of enquiry to date,” added Deb Wiltshire, general manager of sales at Gurner.
This latest update comes a week after, Tim Gurner bought into a $1.75 billion project in Melbourne’s Docklands, entering into a joint venture with the Liberman family-backed City Harbour.
