Melbourne-based developer Gurner has won planning approval for its debut Sydney project, a $800-million “ultra-luxe” residential development at 189 Kent Street.
The City of Sydney has approved modifications to an existing development application, reducing the number of residences from 125 to 91 and increasing the proportion of three-bedroom apartments.
The development marks Gurner’s expansion into New South Wales. The site is reportedly the final freehold land title site in the Barangaroo precinct, with most surrounding sites held under leasehold arrangements.
The two 34-storey towers will replace the 1960s ADC Building on the 1195sq m site, which Gurner acquired for $200 million in 2023.
Most residences will occupy entire floors for approximately 250sq m of space, with private lift access and outdoor terraces. The project’s estimated build cost is $89 million.
The FJC Studio-designed development will feature two dual-level penthouses, and amenities including ground floor restaurant and bar, a sky pool and terrace, private dining facilities, business lounge, valet service, and concierge.
The plans include car-share services and dedicated spaces for health and wellness practitioners.
The wellness offering has become a signature element of Gurner developments. In this instance, it will deliver what the company describes as “six-star luxury, amenity and service that has not been offered before in Sydney”.
The Kent Street approval comes as Gurner moves ahead with several major developments across Australia.
In Melbourne’s Docklands, construction is under way on the first stage of the $1.7-billion Elysium Fields precinct after subdivision approval was made in December.
Work is also under way at Melbourne’s historic Jam Factory site, where demolition began in December ahead of the $2.75-billion mixed-use development.
The project is planned to deliver approximately 600 residences across five towers, as well as retail, commercial, and hospitality offerings.
In Queensland, the developer won approval in May of 2024 for a $250-million resort development at Port Douglas, comprising a 112-key hotel including six underwater aquarium suites, and 44 luxury townhouses.
The company’s build-to-rent division, in partnership with Qualitas, completed its first project in June of last year.
The 297-apartment Beach House development in Melbourne’s St Kilda includes one, two, and three-bedroom apartments and hotel-style amenities.
“Across our portfolio, we are launching $3.5 billion of new projects in the next 12 months,” the developer said in October of last year.
This expansion includes residential and hospitality ventures, with the group planning to launch a hotel-specific capital fund in 2025.
The Kent Street project’s approval demonstrates ongoing confidence in Sydney’s ultra-luxury market.
Work on the Kent Street project is slated to begin this year. Gurner said the group had been “overwhelmed with enquiries for this project, well before we have even discussed the launch”.
