Barana, Gurner chase $30,000 per sqm for St Kilda apartment

The $15 million unit is opulently fit out with a staircase said to cost $500,000.

Sydney based Greg Shand via Tim Gurner, who he appointed in 2018 with a financier to deliver St Kilda’s Saint Moritz project, has listed a double storey mid-rise apartment in the recently completed complex for $15 million – or $30,000 per square metre.

The Saint Moritz apartment carries a $15 million price tag.

Contrary to widespread reporting elsewhere, the dwelling is not Mr Gurner and his wife Aimee’s private residence; that remains a home in Toorak which cost $17.02m in 2017.

The pair did however decorate and furnish the St Kilda unit at 14-16 The Esplanade, which recently issued title records show is owned by Barana (St Kilda) Investments Pty Ltd, with sole directors Mr Shand and Paul Harley, also from New South Wales.

The water view from 607A/14-16 The Esplanade, which is asking $3.9-$4.1 million.

Saint Moritz replaced a Novotel hotel which Mr Shand’s development company Barana Group acquired for $55m in 2012 from Tourism Asset Holdings, then obtained a permit to replace with three buildings containing 236 dwellings.

Mr Shand tried to sell the 5791 sqm site in 2018 asking c$100-$110m.

When that campaign failed, he decided to proceed with a c130 unit residential conversion appointing the company Gurner as development partner for design, marketing and planning. ANZ in 2019 replaced Alceon as financier.

Pricey fittings

Spreading 500 sqm across the third and fourth floor, the $15m dwelling contains four bedrooms – the master with an ensuite and sauna – and five bathrooms.

It also includes six car parks which in this part of Melbourne, according to commercial sales agents, are each worth over $15,000.

“After living through COVID, we as a community have turned to more intimate dining and entertaining with friends so the custom bar, games lounge and billiards table makes the most of this incredible residence – why go out when the new owner can entertain guests at home while Port Phillip Bay shimmers in the foreground,” Mr Gurner said.

“My favourite element of the residence has to be the incredibly rare and sought after double height living and dining space that opens up to the incredible bay and water views, which offer a front row seat to some of the most breath taking sunsets I have ever seen,” he added (story continues below).

“Due to the investment into quality, rarity, luxury and the lived experience in both this residence and Saint Moritz, we are expecting interest from both local and international buyers,” according to the executive.

“The furniture is worth a…total of over $500,000 and is available for select buyers”.

Barana settles Saint Moritz units

Off-the-plan buyers settled on their Saint Moritz apartments with Barana (St Kilda) Investments Pty Ltd last year with some hitting the market again over summer. The developer is also offering unsold units.

One dwelling, another waterfront, spreading 276 sqm (or 294 sqm including a balcony) and with three bedrooms and two car parks, carries a guide of $5.95m-plus – or more than $18,953 per sqm. That selling agency is Marshall White.

The Agency’s Michael Paproth, meanwhile, is marketing two three bed, two park residences – on the fourth and sixth floors and also with water views, these are asking $2.35m and $3.9-$4.1m respectively.

That broker is also selling a two bed one park unit with a water view from the balcony, on the second level, for $1.355m.

Gurner’s internal agency department is promoting the $15m penthouse; Deborah Wiltshire is the representative.

Between 1939-1981, after which (in 1982) it was destroyed by fire, the St Kilda site accommodated the St Moritz ice skating rink.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of