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Gurner completes first two towers of $600m apartment development in Brisbane

Banking & Finance , Property & Development
Gurner completes first two towers of $600m apartment development in Brisbane
Arnold Bloch Leibler has advised Gurner™ in relation to its $600m residential development and mixed use project in Fortitude Valley, Queensland.

GurnerTM, led by Melbourne-based property developer Tim Gurner, revealed the first two towers of the FV project this week – ‘Flatiron’ and ‘Valley House’. The towers form part of one of Brisbane's largest developments, and feature 651 apartments, approximately 1860 sqm of retail space, as well as unparalleled communal amenities including four pools, cinema, spas, gym and studio, and dining areas. Mantra Group's luxury brand Peppers Residences has bought the building management rights for the FV development.

Gurner told the Australian: “When we first unveiled our ambitious plans for FV, we had a lot of doubters and naysayers. People laughed at us and said we would never get the project off the ground.”

The developer is underway with the third and final tower in the complex, ‘No.1’, which is expected to be completed by mid 2019.

The project involved both ABL’s Banking & Finance and Property & Development teams.

Banking & Finance Partner Philip Chester, Senior Associate Damien Cuddihy and Lawyer Maneka Siva Nathan advised on the financing and structuring of the development.

Philip Chester commented on the transaction: This project involved a large number of stakeholders and a complex level of debt, and we are pleased to have assisted Tim and his team to deliver this ground-breaking development. We look forward to watching the GurnerTM brand continue to grow.

Property & Development Partner Kevin Frawley and Senior Associate Tanya Bastick acted for GurnerTM in relation to the design and construction contracts for the development.