GURNER's New York-Style Apartment Project Sells Out

Melbourne’s owner occupiers continue to dominate the inner apartment market, with developer Tim Gurner’s latest luxury development reaching 100 percent sold in less than 48 hours, with over 55 per cent sold to owner occupiers.

28 Stanley Street, located in Collingwood’s historic Foy and Gibson precinct, launched to the public on Friday June 11, with the $30 million project reaching 100 percent sold by close of Sunday afternoon.

The project follows the success of the developer’s nearby Collingwood project, 107 Cambridge Street, which GURNER launched four weeks ago, and Regent Residences just 800m away in Richmond which is about to start construction after selling all 54 apartments in a matter of weeks.

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Responding to ever-changing market demands, GURNER completely reconfigured 28 Stanley Street's floorplates to limit the one bedroom apartments to roughly 20 percent of the product mix, increase the size of all apartments and introduce multiple three bedroom offerings. The reconfigured design delivered average apartment sizes of 55 sqm internally for one-bedroom offerings, 67 sqm internally for two-bedrooms and between 120 sqm and 150 sqm for the project’s three 3-bedroom penthouses, which all sold for over $1.5m.