Gurner has announced the appointment of Icon Co. to construct the final stage of its Elenberg Fraser-designed three-tower ‘FV’ project in Fortitude Valley in a contract worth $90m-plus.
The contract includes the construction of 267 apartments within the project’s ‘No.1’ building along with four levels of high-end commercial and retail offerings.
The sold-out tower will commence construction in early 2017 as soon as key anchor tenant Winning Appliances can move their existing operations from the current No.1 site location into their new state-of-the-art 1800sqm showroom in the project’s neighbouring ‘Flatiron’ building, which is set to open around the same time.
Icon Co QLD Pty Ltd Director Mark Spry said Icon was excited to be part of the success of FV No.1.
“Icon is delighted to partner with Gurner to deliver their vision for the FV No.1 project.
“Since Icon’s inception we have worked tirelessly to bring our clients’ projects to the fore in the urban landscape and distinguish them from their competition," Mr Spry said.
Mr Gurner echoed the sentiments and said this tower would be the most anticipated of the three.
“We are excited to have appointed our long term collaborator Icon to construct our third and most ambitious of the three FV towers," Mr Gurner said.
Long-time finance partner, ANZ has committed further funding for the final tower, in addition to its existing commitment as financier across the 651 apartments in Stage One.
“ANZ is an incredibly important part of our business and they have always supported us, so we are delighted that ANZ has reaffirmed its commitment to our brand, the project and the Brisbane market as the finance partner for No.1,” said Tim Gurner, founder and director of GURNER™.
Long-term Gurner finance partner MaxCap has committed mezzanine finance across the entire development.
Construction is scheduled to commence early 2017 with an estimated 27-month timeline.