Multi-billion-dollar developer GURNER™ and Australia’s leading real estate financier, MaxCap Group have confirmed they have formed a joint venture partnership for an acquisition on the booming Gold Coast – a 1,012sqm site in Burleigh Heads that will become a landmark $120m, 80-residence, 22-storey luxury tower with a rooftop amenity.

GURNER™ and MaxCap have a formidable track record of partnering together having completed over 20 transactions with an end value of ~$1.5 billion in the past decade.

To be designed by long-time collaborator of GURNER™, Warren and Mahoney, the Burleigh Heads site will be centred around the concept of a Singaporean landscape oasis blended with elegant Japanese design, culminating in a lifestyle-led ultra-luxury precinct that also boasts GURNER™’s signature resident amenities.

The acquisition signals a strong start to 2022 for the developer, whose pipeline now exceeds $10 billion, as well as the confidence GURNER™ and MaxCap continues to have in the Gold Coast – a market where demand continues to outstrip supply.

The project, which follows in the footsteps of GURNER™’s other landmark Gold Coast project – the $1.25 billion La Pelago, is expected to hit the market in 2022.

The GURNER™ team is expecting to lodge a formal planning application at 1929 Gold Coast Highway, Burleigh Heads in coming months, having already begun initial discussions with council.

Quotes attributable to GURNER™ CEO, Tim Gurner

“ We are very excited to be starting 2022 joining forces with MaxCap on such an important acquisition, as we continue to expand our Queensland footprint on the Gold Coast – it’s a market we have great confidence in, and one that will continue to play an important role in our company’s growth.

“ We are doing some huge things this year, nationally but also on the Gold Coast – this includes the launch of our $1.25 billion La Pelago, which will redefine luxury living and bring world-class retail, hospitality and amenity to the area.

“ There is no doubt that Burleigh Heads is the hottest market in Australia right now, and it’s a place we have to be in.

“ Following on from the incredible revitalisation that Chris Vitale is bringing with the Mondrian, we want to be able to enter the market and offer buyers all the amenity on offer in the area with residences that are attainable for local buyers,” he said.

Quotes attributable to MaxCap Group executive director and founder, Brae Sokolski

“ MaxCap’s philosophy has always been to partner with only the highest calibre developers in the Australian market. Tim Gurner most certainly fits this bill and we are incredibly proud of our long sustained track record of success with Tim and his team. We have high conviction in the long-term fundamentals of the Gold Coast market and this project represents another important strategic investment by MaxCap into the region.

“ Our Direct Investment portfolio continues to grow in a highly strategic direction. Partnering with groups of the calibre of GURNER is a strong validation for the sophisticated and diligent approach we take with our joint venture partners,” he said.

Quotes attributable to GURNER™ general manager – mixed use, Tim Mills

“ Despite the challenges posed by the last two years, the top end of the market has continued to stand up, and one area that is reaping the benefit of this is the Gold Coast – buyers are seeking ultra-luxury residences with hotel-style amenities and service, and we will continue delivering that.

“ Elegant Japanese design will be complemented by a Singaporean-inspired outdoor landscape, creating a sense of calm and sophistication throughout each of the 80 residences – outdoor spaces, rooftop amenity and residents’ areas will also reflect this design direction.

“ Burleigh is such a unique location on the Gold Coast, it benefits from a really tight-knit community feel while also undergoing incredible growth and regeneration with so many amazing cafés, restaurants and bars opening up in the past two years,” he said.

Quotes attributable to Warren and Mahoney design principal, Barrington Gohns

“ The design at Burleigh Heads reflects the unique character of this thriving sub-tropical oasis – being both relaxed and refined.

“ The architecture focuses on delivering private sanctuaries that reflect and meld with the coastal environment.

“ This connection to water influences the building’s façade and character. Materials have been employed to create a fresh, bright, and coastal feel, featuring natural elements of stone and timber surrounded by lush vegetation.

“ Residents will enjoy deep balconies from which to enjoy uninterrupted ocean views and an open-air lobby, complete with a porte cochère, to enhance the user experience from the moment of arrival.

“ Warren and Mahoney shares GURNER™’s ambitions to deliver carbon neutral projects and the Burleigh Heads development will be no exception,” he said.

MaxCap Group, Australasia’s leading Commercial Real Estate financier is providing a $74m first mortgage construction facility to assist high profile developer Samma Property Group to fund construction of stage 1 of its flagship mixed-use project in Ivanhoe, Melbourne.

Located at 87-131 Bell Street, the leafy affluent suburb of Ivanhoe is approximately 10 kilometres north-east of the Melbourne Central Business District. Samma Place will be developed over four stages consisting of 491 apartments set across 4 buildings.

Stage 1 of the development ‘Linden’ comprises 134 residential apartments across 14 levels, retail and commercial space and car parking. In addition, there will be communal facilities available for the building such as pet wash, gym, rooftop outdoor terrace, spa, outdoor cinema, private dining/lounge. The apartments are designed to meet Better Apartment Design Standards and 4-Star GreenStar rating.
Samma’s vision is to bring Ivanhoe luxury to apartment living, with timeless architecture and cascading garden terraces. Buxton Constructions has been appointed as builder for the Project and award-winning architecture, interior and urban planning firm, Peddle Thorp has designed the building.

Johnny Woodhouse, MaxCap’s state director – VIC said “Samma Property Group has earned an excellent reputation in the market having delivered a number of quality developments in recent years. Ivanhoe is a highly desirable suburb with a median house price of $1.6m and median unit price of $750k. Linden appeals to a broad demographic of owner occupiers, down sizers as well as investors.“

Samma Property Group’s Senior Development Manager Benjamin Cribb said that this $300 million development will breathe new life into Ivanhoe. ‘Linden’ stands out for its large apartments complemented with cutting-edge design and meticulous landscaping. Our brief ensures Linden has its own identity with each apartment designed as a ‘backyard in the sky’, synthesizing the Australian backyard with contemporary apartments. ‘Linden’ will also be home to nearly 1,000 square metres of commercial space, with subsequent stages proposed to include a grocery store, café and offices.

The total GRV of stage 1 is expected to be >$94m. Construction works have already commenced on site and is expected to be completed third quarter of 2023.

MaxCap Group, Australasia’s leading Real Estate financier has confirmed it will provide a land and first mortgage construction facility to KDL Property Group (KDL) for the site acquisition and construction of their Rosebank Estate project.

MaxCap is excited to be partnering with experienced land developer in KDL for their Rosebank Estate located in the prime growth corridor of Logan Reserve, Queensland. With significant infrastructure investment underway and demonstrated market acceptance of neighbouring developments, Rosebank Estate continues to impress with strong demand from first home buyers.

MaxCap’s State Director – QLD, Michael Nitschke said: “In a burgeoning land market, to have an opportunity with a developer of the calibre of KDL, this represents the ideal project for MaxCap to continue pursuing quality residential land sub-divisions in South East Queensland”.

KDL Property Group Managing Director, Kent Leicester said: “We are proud to have the support of MaxCap for our Rosebank Project in Logan Reserve. Like every KDL project, it is paramount we work with experienced professionals that align on our vision. With the current industry landscape presenting new challenges, MaxCap Group’s flexible solution allows us to be agile as we continue to deliver on our promise to develop quality communities.”

“With Rosebank now under construction and number of new projects to come to market in 2022 and beyond, we envision this is only the first of many ventures with MaxCap Group.”

MaxCap Group, Australasia’s leading Real Estate financier is funding an exciting new contemporary residential and retail development in the heart of Neutral Bay, continuing its strong growth trajectory in Sydney. The sought-after inner harbour suburb will be the site for ‘Pienza’ for which MaxCap will provide a $100m+ construction facility to leading developer Central Element.

“We are delighted to be extending our relationship with Central Element on “Pienza Neutral Bay Village” in Sydney’s Lower North Shore,” said Mr David Oudshoorn, MaxCap’s State Director – NSW “There is really nothing else like it in the area, right in the heart of Neutral Bay Village.” Pienza will be a contemporary six-storey building, designed by leading architect SJB. 39 residences, secluded rooftop gardens and infinity pool will be presented for prospective occupiers with two levels of commercial space and basement parking for both residents and the wider community to benefit from.

Central Element is a Sydney-based developer specialising in luxury residential developments, with a focus on Sydney metropolitan locations. MaxCap recently announced support for Central Element’s Chatswood project which is due to begin construction later next year.

“Pienza targets the luxury down-sizer market where we have seen continued sales momentum over the past year and projects like this are the perfect means for MaxCap to continue with our renewed push in NSW,” said Mr Oudshoorn. “Central Element have a great track record of delivering quality product with recent projects in Balmoral and Coogee selling extremely well and this will really be a landmark project for the group.”

Marketing commenced in November 2021, with the project being sold by CBRE. Given the high-end product offering, strong demand is coming from local owner occupiers – particularly downsizers and construction is expected to commence in the first quarter of 2022.