Tim Gurner

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Tim Gurner is an Australian businessman. He is the founder of Gurner Group.

Contents

Business

Gurner is known as a developer of luxury apartments in Australia. He has been involved with build-to-rent projects. [1] [2] He has been described by The Australian as an 'apartment wunderkind'. [3]

Projects pursued by Gurner include: a joint venture with the Liberman family to develop a $1.75b mixed-use precinct in Docklands, [4] [5] a $200m apartment development of 189 Kent St in Sydney, [3] build-to-rent projects, [6] and an anti-ageing private social club. [7] When sold in 2019, the David Hicks designed penthouse of Gurner's St Moritz development in St Kilda, Victoria, broke national sales records to become the second most expensive apartment in Australia. [8]

Controversies

Gurner said in May 2017 that millennials should not be buying smashed avocado on toast and $4 lattes in their pursuit of home ownership. [9] [10] These comments became a prominent topic in Australian media. In public reply, some estimated the savings of forgoing avocado on toast would be an estimated €500 annually, and that at that rate it would take over 500 years to save for a house in the Republic of Ireland. [11] The comments have been compared to David Bach's "Latte Factor". [12]

In September 2023, speaking at the Australian Financial Review Property Summit, Gurner said that unemployment should rise by 40–50%, because workers had become too arrogant and "pain in the economy" was required to change attitudes. He also stated that governments around the world were working towards that aim. [13]

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References

  1. ↑ "Build-to-rent alone won't fix housing crisis: Tim Gurner". Australian Financial Review. 2023-05-31. Retrieved 2023-07-18.
  2. ↑ Cummins, Carolyn (2023-03-07). "'Huge change' to housing in Parramatta on the way". The Sydney Morning Herald. Retrieved 2023-07-18.
  3. 1 2 "Apartment wunderkind's $200m Sydney CBD play". The Australian.
  4. ↑ Scott, Mackenzie (13 October 2022). "Developer Tim Gurner's $1.75bn Docklands project that will reinvigorate the inner-city precinct". Herald Sun. Prolific developer Tim Gurner is not allowing construction constraints or the pandemic to slow his momentum, shoring up his multibillion-dollar pipeline of work with a $1.75bn "city-changing" project in Melbourne.
  5. ↑ "Liberman family turns to Tim Gurner over $1.75b Docklands project". Australian Financial Review. 2022-10-12. Retrieved 2023-07-18.
  6. ↑ "Rich Lister Tim Gurner raises $2b for Sydney build-to-rent push". Australian Financial Review. 2023-02-21. Retrieved 2023-07-18.
  7. ↑ "Inside rich lister Tim Gurner's new anti-ageing, private social club Saint Haven". Australian Financial Review. 2023-05-05. Retrieved 2023-07-18.
  8. ↑ "David Hicks is styling projects as private homes – Boutique Developer" . Retrieved 2024-03-04.
  9. ↑ Reid, David (16 May 2017). "Millionaire says millennials should stop buying avocado in order to buy dream home". CNBC . Retrieved 15 March 2021.
  10. ↑ Cummings, William (16 May 2017). "Millionaire to Millennials: Your avocado toast addiction is costing you a house". USA Today . Retrieved 15 March 2021.
  11. ↑ Jones, Fionnuala (17 May 2017). "Here's how much avocado toast equates to a house in Ireland". News Talk. Archived from the original on 21 May 2017. Retrieved 20 May 2017.
  12. ↑ Burkeman, Oliver (8 December 2017). "Will you be able to afford a flat if you stop buying avocado toast?". The Guardian. Retrieved 23 April 2018.
  13. ↑ "Aussie CEO Wants Unemployment To Rise And 'Pain In The Economy'". Huffington Post . 12 September 2023. Retrieved 13 September 2023.


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