of Rich List developer Tim Gurner’s company and fellow Rich Lister Andrew Roberts’ building contractor Roberts Co, a source with the knowledge of the discussion said.– and Mr Roberts, as well as an unresolved question of the relative values of their two businesses also hindered the transaction, another source said.
It would also have created a predictable stream of work for Roberts Co, allowing it to manage procurement more efficiently, as well as offering an investment opportunity to Mr Roberts, whose family also owns funds management platform“The general increase in construction costs in the market has rendered a number of those more challenging today,” one person close to the negotiations toldIn addition, the different personalities of the two leaders, as well as different views on the values of their...
“Chemistry is always a big factor,” another source said. “The reason the Roberts and Gurner deal didn’t go ahead is much more to do with those other actors – values and chemistry.
“We have a number of exciting commencements and project launches this year with builders already committed to these jobs.” Australia’s severe shortage of skilled trades was one reason developers and builders were facing higher costs. The federal government last week said itA combination of the two companies could still come about at some point, the first source said.covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne.