The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
HotelAna NarvaezWed 27 Jun 18

Gurner, Alceon and Barana Group Partner up to Develop St Kilda Novotel Site

TUD+ MEMBER CONTENT
507207bc-765f-491b-84ca-efbb7e7fad64
SHARE
print
Print

After being quietly withdrawn from the market earlier this year, the fate of Barana Group’s Novotel St Kilda site has been announced, with property developer Tim Gurner inking a deal to develop the valuable site into a $550 million “luxury precinct”.

Greg Shand’s Barana Group listed the 5,791sq m site in February with a $110 million price tag.

The deal will see Gurner partner with the Barana Group and finance partner Alceon to redevelop the site into a larger precinct yielding up to $550 million on completion. Shand and Gurner were introduced by founding partner of Alceon Group Phil Green.

Shand acquired the hotel in 2012 for $55 million.

Barana Group secured a development permit for a three-tower, 236-unit project in 2017. The development team has said that architects will work to amend the design within the site’s approved height and planning parameters.

Related: Gurner Wins Approval for Stalled Collingwood Project


Related: Gurner Sues Victorian Planning Minister Over Halted Project

Greg Shand said that the decision to redevelop the landmark site was made possible by the development partnership inked with Gurner and Alceon Group.

“We do not take the decision to press the button to proceed to redevelop lightly and were only prepared to do so because of the skills and the vision that our partners have brought to the table.”

Gurner has commenced an international design competition with a brief outlining a revised design for 130 to 140 larger apartments along with a world-class wine bar or restaurant.

“St Kilda is undergoing a major revitalisation with a number of significant redevelopments underway that will place it firmly on the map as an international tourist destination,” Gurner said.

“Just as LA’s Venice Beach, Sydney’s Bondi Beach and Monaco’s coastline are known around the globe.”

A public launch of the project is planned for early 2019 with construction expected to commence later in the year.

The St Kilda Novotel will continue operation until construction is under way.

HotelAustraliaMelbourneSector
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
Exclusive

Newest Land Lease Player Plots Sector Shake-Up

Taryn Paris
5 Min
View All >
Infrastructure

Tasmanian Premier Shrugs off Damning Stadium Report

Lindsay Saunders
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
Sponsored

Melbourne’s Public Art: Driving Cultural and Economic Value

Partner Content
From laneways to landmarks, Melbourne’s public art is shaping identity, boosting value, and drawing people in...
LATEST
Infrastructure

Tasmanian Premier Shrugs off Damning Stadium Report

Lindsay Saunders
3 Min
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Placemaking

Melbourne’s Public Art: Driving Cultural and Economic Value

Partner Content
3 Min
Placemaking

Arup to Lead Brisbane Games Victoria Park Masterplan

Lindsay Saunders
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/gurner-alceon-and-barana-group-partner-up-to-develop-st-kilda-novotel-site-