Home' Hotel Management : HM April 2017 Contents Luxury property developer Gurner has
announced the successful sale of the
building management rights to its landmark
AUD$600 million ‘FV’ project in Brisbane to
Mantra Group’s high-end ‘Peppers’ brand.
The management rights span 970
apartments across the project’s three
towers, as well as portions of the 4,000sqm
of commercial space and leisure facilities
comprising proposed multiple food and
beverage premises, conference and business
facilities, concierge, housekeeping and
maintenance areas, numerous pools, private
spa areas, a gymnasium, private dining and
moonlight cinema areas, along with the
expansive hotel-style rooftop amenity atop
the third and final building, No1.
The deal was contracted in the final days
of 2016 and under the terms of the deal, the
managed apartments and associated facilities
will be known as ‘FV by Peppers’.
Gurner founder and director, Tim Gurner,
said the deal had completed the developer’s
vision to create a world-class mixed-use
5-star precinct in the heart of one of
Brisbane’s most vibrant inner city locations.
“From the outset FV has been an
incredibly important legacy project both for
the business and me personally so we wanted
to ensure that our clients and residents would
be serviced by the best in the business after
the project has reached completion, so that in
10 and 20 years’ time it is still a place we are
all incredibly proud of,” Gurner said.
“Our goal has always been to create
a precinct that would offer the very best
5-star service and amenity akin to a luxury
international hotel so it was important to find
the right brand to bring that vision to life.
“The sheer scale and level of luxury at FV
meant we needed to be incredibly diligent in
who we selected to manage the building in
order to ensure our incredibly high standards
of service and quality could be met for our
buyers and residents.
“With its impeccable track-record and
experience in managing high-end properties around the globe, I have
absolute faith that Peppers – with the strength of the Mantra Group business
behind it – will embody our vision to create a truly world-class retail and
“ With a focus on expanding its long-term rental business, Mantra Group
has the experience and breadth of understanding of the long term market to
manage such a substantial portfolio of apartments and ensure our owners are
getting the best service available in Australia.
“Although we had a number of offers from competing international groups
at higher levels, we felt the balance sheet, strength and resources behind the
Peppers brand and Mantra Group business would deliver the outcome we
insist on for such a large and iconic project.
“Mantra Group in my view is the only
large group in Australia with the breadth of
services and resources to be able to run such
a large long-term rental business and provide
great flexibility for owners,” he said.
Mantra Group Chief Executive Officer,
Bob East, said the acquisition would herald
the arrival of the Peppers brand in Brisbane
and represents a continuation of the Group’s
strategic direction to grow the permanent
rentals arm of the brand.
“This acquisition is in line with Mantra
Group’s strategy to selectively grow its
permanent rental business in favourable
locations, following the successful acquisition
of Mantra Residences at Southport Central
last year,” East said.
“FV presents us with an excellent
opportunity to secure a presence of scale
and quality in a prominent location and grow
our permanent rental business, with potential
short-term accommodation opportunities
“As the leading strata titled property
operator, our appointment ensures investors
will benefit from our flexible operating
options, dedicated owner relations and
strata management team and powerful
“Once open, FV by Peppers will be
Mantra Group’s largest property in Australia
and our second largest globally – superseded
only by the 1,176-room Ala Moana Hotel in
“The property’s sought-after Fortitude
Valley location, a vibrant, growing
metropolitan Brisbane precinct, has
proven demand drivers for both visitor and
“ We strongly believe in Brisbane’s future
prospects and invest for the longer term.
“ We’re thrilled to partner with Gurner
on this strategic and significant new
development for Brisbane, one which will
establish a new benchmark for scale and
luxury in the city,” he said.
Gurner’s FV project has turned heads since its initial launch in 2014,
thanks to its hotel-style luxury design and unparalleled dedication to luxury
The three-tower project features a total of 3,000sqm of private amenity;
complete with multiple pools including a feature U-shape pool and bar in the
Flatiron building, in addition to a crowning rooftop pool in the No.1 building,
along with a number of bars, private dining areas, cinema facilities, a gym, yoga
studio, business club and much more.
Construction of the project’s first two stages, ‘Flatiron’ and ‘Valley House’ is
currently underway, with these stages slated to reach completion in the third
quarter of 2017. Construction of the third tower commenced in January 2017
and is anticipated to reach completion in 2019.
Mantra Group to brand major Brisbane
development FV under Peppers
An artist’s impression of Gurner’s FV project
Tim Gurner, Brisbane Lord
Mayor Graham Quirk and
Bob East at the FV site
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