Tim Gurner maps out next phase in expanding his luxury brand
Most developers have got the basics like location and pricing covered, but Gurner’s unrelenting focus on luxury is a point of difference.
For most property developers the coronavirus crisis was a time of bunkering down, but entrepreneurial Tim Gurner has instead taken time to map out the next stage of his luxury housing and accommodation empire.
The developer has doubled down on taking the Gurner brand national and pushing into new areas including build-to-rent and hotels. And he has expanded into markets such as the Gold Coast and is keen to undertake more Sydney projects.
The moves are well-timed as mansions in major cities are once again selling at premiums and Gurner’s high-end complexes have become part of this world.
The company already has projects on the go across Melbourne, Sydney and Brisbane and even a resort in Port Douglas. The founder is keen to expand on the portfolio of luxury residential projects along the eastern seaboard and is looking to take the brand into new assets, including tourism, wellness, accommodation and dining.
“Anyone who knows me knows I’m obsessed with brands,” he says. “I love the aspirational kind of luxury brands and fashion brands.” They have guided the company, and gained it a following among well-heeled buyers.
“We wanted to have brand rules and design rules that people were comfortable with so they could buy a Gurner product,” he says. While a lot of work goes into buying in the right spots and designing top products, Gurner says the dream of establishing an aspirational brand is coming alive.
“We don’t want to develop anything we’re not proud of,” he says.
Gurner says few rivals have committed to their brands in the same way as his company.
“That’s probably because it’s extremely hard; the buyers are incredibly demanding. You’d really want to love what you’re doing because it’s not easy,” he says.
New areas are one focus this year. Gurner had earlier investigated build-to-rent before taking the plunge last year with real estate fund manager Qualitas.
The fund is seeded with three Melbourne projects with an end value of more than $1bn. Other major capitals are on the horizon.
Gurner says that as a developer of premium apartments, it was important for the business to also give buyers a top-class after-purchase experience in line with the calibre of the buildings.
The focus will be on luxury rather than competing on price alone, and he is working on creating a differentiated product that will suit those with a taste for his build-to-sell projects. “We see this as a great opportunity to introduce a new demographic of Australians to our product and give people who for different reasons choose not to own their own home the option to live in a Gurner-designed, built and managed property,” he says.
“We can do some really amazing things because they’re also close to hotels,” he adds, referencing another area where the group is taking its luxury stylings.
Earlier this year Gurner doubled down on its interests in Melbourne’s St Kilda, where it is developing the ultra-luxury St Moritz development, by picking up the infamous Cushion Lounge.
The developer tapped architects Warren and Mahoney to design what is planned to be the first in a series of new concept hotels under the brand Club Maison, offering ultra-luxury boutique short and long-stay accommodation that blurs the lines between a hotel and a home.
“Saint Moritz really reinvigorated my love for St Kilda. We are excited about the opportunities here and I believe St Kilda is really just at the beginning of a once-in-a generation transformation,” Gurner says.
As ever, he is diving in hard. The company plans to acquire 12 to 15 sites of varying scale across the country over the next 18 months. “We are aggressively looking for further sites as the business continues to diversify and grow,” Gurner says.
Luxury apartments remain at the core of the business. Gurner is also keen on the Gold Coast, where he is working on a prime site at Budds Beach that is being undertaken with investment house Wingate.
The pair are working up plans for a $600m-plus mixed-use and resort precinct.
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