GURNER and Qualitas’ GQ merger has announced its third build-to-rent project, titled Beach House, located in St Kilda.
Delivering 300 residences across two towers that span 12 and 28 levels respectively, the project is estimated to cost $300 million. Designed by Warren and Mahoney, the building’s design language reflects its immediate coastal landscape.
The initial permit has been amended in order to allow GQ to provide a number of world class amenities for residents, including a gym, indoor play areas, day spa facilities, a 14-person cinema room, rooftop bar, private dining rooms and many more. Alongside the residential amenity, Beach House will deliver 1,563sqm of net lettable area across commercial and retail spaces.
Despite being the third BTR project announced by GQ, it will be the first to commence construction, with Crema Construction beginning work this week. When complete, the landmark precinct will offer uninterrupted panoramic views over the Melbourne CBD, Albert Park Lake and St Kilda’s beachline.
GQ believes St Kilda is an ideal BTR market, with a number of young, affluent renters who are seeking a level of residential product, amenity and service that are not currently available on the market. GURNER Founder, Tim Gurner, says the developer is excited to be delivering a major project in an area of opportunity.
“We are thrilled to be able to announce the acquisition of such an iconic site for our platform, as we continue to bring together the best in-market opportunities with genuine points of difference – a key element our brand has focused on since its inception," he says.
“Our build-to-rent platform is primarily focused on impeccable design and environmental standards – this St Kilda precinct will lead the way in that regard."
Qualitas Global Head of Real Estate Mark Fischer echoed Gurner’s sentiments.
“The third acquisition for the platform provides us with the critical mass to become a significant player in the build-to-rent sector, a very short time after its launch. This gives us a significant base from which to build, as we continue to deploy our committed fund capital into attractive off-market opportunities,” he says.
“We identified the Beach House site as a stand-out for build-to-rent some 18 months ago, and we are excited that construction has now commenced. With Crema Constructions appointed to deliver this high-quality project, its focus on sustainability standards will ensure we are delivering an enduring asset for our investors.”
Warren and Mahoney Principal Architect, Nick Deans, says the practice has endeavoured to create a building that channels the urban and coastal locale of St Kilda.
“Inspired by the sea, and created with the build-to-rent market in mind, Beach House’s design is both elegant and informal, and visually represents a nod to the shoreline suburb of St Kilda. Its base structure presents a textural, warm, sandstone-inspired podium of elegant, curved forms, which is complemented by residential towers bearing a light, glazed aesthetic reaching into the sky.
“ The tower’s form and façade detailing are designed to create elegant and fluid forms that change according to perspective and time of day. The towers will respond to changing light and perspectives to provide a range of subtle changes in the project’s form.
“ Beach House will provide its residents a lifestyle of seaside oasis alongside luxury hotel amenities, including a porte-cochère entrance, extensive health and wellness facilities, pet amenities, and a rooftop bar that faces Fitzroy Street and the ocean.”
For more information, visit gurner.com.au
