Melbourne-based property developer
GURNERTM has appointed building company
Brookfield Multiplex to construct what will be one of Brisbane’s largest and most iconic residential projects, FV.
The $150 million contract will see Brookfield Multiplex constructing the first two of three buildings in the precinct.
The first two buildings, named Flatiron and Valley House, will contain a total of 651 apartments, over 2,500 square meters of retail space and over 3,000 square meters of luxury resident amenities in the FV Private Club.
The private resident’s area will include three pools, a cinema, private dining rooms, a gym, yoga studio, casual dining and bar areas and a large outdoor entertaining area.
The third tower is expected to be released to the market in 2015.
Works are expected to begin on the $600 million project in March, with the first two buildings Flatiron and Valley House set for completion in late 2017, after a 27 month construction period.
GURNERTM founder Tim Gurner, said Brookfield Multiplex’s experience in delivering developments across the globe was one of the driving factors in their decision for handing them the contract.
“With over 50 years of experience spanning 230 apartment buildings around the world worth a combined total of $13 billion, Brookfield Multiplex was the natural first choice to construct this iconic project.
“FV is set to reinvigorate Fortitude Valley and create a luxury shopping, café and lifestyle destination, so we are pleased to have appointed a builder who shares our passion for quality and vision to revitalise this sought-after suburb,” Mr Gurner said.
Brookfield Multiplex’s regional managing director for Queensland Rod McDonald said the construction of FV signified an exciting time for Brisbane as the market strengthens.
“The construction of FV marks a significant period for Brisbane – we are now witnessing the city mature as infrastructure is delivered and urban renewal projects such as this one start to create a real identity for residents.
“We have really enjoyed working with GURNER™ on this landmark project to date. Their innovative, collaborative approach has driven a successful design outcome with the team which will certainly help to create what will undoubtedly become one of Brisbane’s most exciting developments,” Mr McDonald said.
GURNERTM has sold over 615 apartments at FV in 12 weeks, delivering one of Brisbane’s most successful sales campaigns ever recorded.
Lord Mayor Graham Quirk
has welcomed the start of construction and says that the project represents significant investment in an area of Fortitude Valley that had not seen any development activity in years.
“The start of construction of the FV development in Brunswick Street will be an exciting milestone and is a reflection of the confidence investors have in the Brisbane market.”
“This unique development will provide a significant boost to the Valley’s daytime economy, transforming Brunswick Street into a vibrant destination for residents and visitors with a modern design that will integrate with the Valley’s established heritage,” Councillor Quirk said.
GURNERTM has fast-tracked the release of the Platinum Collection of apartments in buildings one and two in order to meet demand.
The Platinum Collection are the 35 most premium apartments situated in the middle and upper levels of each building and offer upgraded finished as standard.
GURNERTM plans to bring forward the release of the final FV building early next year, which will be target local owner occupiers and downsizers.
The final building will also deliver premium retail at ground level and a level of luxury similar to Brisbane’s Emporium precinct and a new cultural offering which will reflect Brisbane’s James Street precinct.