$40 million aspirations for Gurner's St Kilda Novotel penthouse

$40 million aspirations for Gurner's St Kilda Novotel penthouse
$40 million aspirations for Gurner's St Kilda Novotel penthouse

A penthouse is for sale in St Kilda with headline grabbing $40 million hopes in the luxury redevelopment of the Novotel hotel.

The Melbourne property developer Tim Gurner has the high hopes in his $580 million, three building project.

The seven bedroom, 1000-square-metre penthouse will include a 10-car garage.

There'll be two pools, guest quarters, gym, sauna, wine cellar and cigar room.

Domain advised the final price for the penthouse "has not been set but is expected to be between $30 million and $40 million."
 
Infact Property Observer understands planning documentation is not yet complete.
 
Gurner had previously signalled hopes that three or four penthouses would sell for up to $30 million.

Fender Katsalidis will design the residences, alongside Koichi Takada Architects and interior design David Hicks.

Some 70 per cent of the project will be priced from $1.3 million to $4 million.

Gurner tipped the apartments to set a new global benchmark in luxury living.

“My brief to the design team was very simple – to look at the best amenity and service of five and six-star hotels from around the world and then step it up to offer a level of luxury, amenity and service that has never been seen before,” he said.

“St Kilda is undergoing a major revitalisation with a number of significant redevelopments underway that will place it firmly on the map as an international tourist destination, just as LA’s Venice Beach, Sydney’s Bondi Beach and Monaco’s coastline are known around the globe."

Gurner expects it to be sold to a local wealthy buyer.

Another Melbourne penthouse is for sale for $45 million in the new The Muse builidng on the plusher St Kilda Road.

The Melbourne record for an apartment sale was set at $25 million when the penthouse of skyscraper Australia 108 sold off the plan in 2015.

The Novotel development site was pulled from the market the Sydney property developer Greg Shand agreed a deal with Mr Gurner to develop the site.

The Novotel will operate as usual until building works begin.

Tags: 
St Kilda Tim Gurner

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