The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
LESS THAN 2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE JOIN MORE THAN 550 ALREADY ATTENDING
JUST 2 WEEKS TO GO UNTIL URBANITY-25 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
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After being quietly withdrawn from the market earlier this year, the fate of Barana Group’s Novotel St Kilda site has been announced, with property developer Tim Gurner inking a deal to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
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
Exclusive

Why Sentinel is Betting Big on Olympic City Office Sector

Phil Bartsch
5 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
View All >
Residential

Fortis Plots Placemaking Project at Hamilton

Taryn Paris
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
NSW Housing Pattern Book HERO.
Policy

Housing Pattern Book Supercharges NSW Planning

Vanessa Croll
Zero to approved in 10 days: Developers are being offered a $1 introduction to the “largest reforms in NSW’s history”…
LATEST
Residential

Fortis Plots Placemaking Project at Hamilton

Taryn Paris
2 Min
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
NSW Housing Pattern Book HERO.
Policy

Housing Pattern Book Supercharges NSW Planning

Vanessa Croll
5 Min
Perth Glory Playbook: Ross Pelligra on Property and Sport
Community

Pelligra’s Playbook: Building Property, Sport Synergies

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