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

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]

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.[8][9] 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.[10] The comments have been compared to David Bach's "Latte Factor".[11]

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.[12]

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. ↑ Reid, David (16 May 2017). "Millionaire says millennials should stop buying avocado in order to buy dream home". CNBC. Retrieved 15 March 2021.
  9. ↑ Cummings, William (16 May 2017). "Millionaire to Millennials: Your avocado toast addiction is costing you a house". USA Today. Retrieved 15 March 2021.
  10. ↑ 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.
  11. ↑ 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.
  12. ↑ "Aussie CEO Wants Unemployment To Rise And 'Pain In The Economy'". Huffington Post. 12 September 2023. Retrieved 13 September 2023.


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