This article is from the Australian Property Journal archive
YOUNG property tycoon Tim Gurner is putting his larger rival developers to shame, after chalking up over 1,700 apartment sales across Australia in just one year.
Gurner has sold just under $1 billion worth of apartments across 13 projects along the eastern seaboard.
At the same time, he has bolstered his development pipeline to over $2.1 billion.
The end of the year caps off a huge year for Gurner, who celebrated a record-breaking 651 apartments sold totalling over $300 million in the first two stages of FV in just 12 weeks, followed by the sell-out success of Ikebana in West Melbourne in just six weeks.
He is now turning his attention to the third and final building at FV in Brisbane, which sold a further 320 apartments worth over $180 million in just six weeks.
Gurner said puts the results down to a combination of extremely hard work and the developer’s dedication to exemplary design and luxury and the ability to read the market.
“Never in a million years did I expect to have sold over 1,700 apartments in our first year on market; we’ve just been absolutely blown away by the market acceptance of our projects across Brisbane and Melbourne.
“Results like this have pushed us to reinvent ourselves in terms of design and amenity to ensure no two projects are ever the same.
“It also reaffirms our strategy to deliver only the best luxury developments with unique design and a dedication to resident amenity within a 1-3kilometre radius of the CBD, in areas with a thriving existing nightlife and café culture,” he added.
Meanwhile Gurner said his company is relatively insulated from the offshore market with a commitment to limiting sales to offshore investors in order to appeal to a predominantly local owner-occupier market.
“We are committed to the local market therefore we limit the number of apartments sold offshore to less than 15% of each development.
“To have witnessed 1,700 apartments sold this year to a mostly local market has proven there is a sustained market for quality, well-designed apartments so we will continue to push the boundaries with our next developments to deliver our signature luxury offerings to the market,” he concluded.
Australian Property Journal
