This article is from the Australian Property Journal archive
BROOKFIELD Asset Management and Johnson Controls have merged their Australian and New Zealand property and facility business to create a new entity targeting $18 billion of outsourced property services.
Brookfield Johnson Controls will combine the local operations of Brookfield Multiplex Services with the Australian and NZ business of Johnson Controls Global WorkPlace Solutions.
The merged entity will manage more than 3.9 million sqm of property in more than 9,200 locations around Australia and NZ, generating revenue of $250 million — with a goal to double over the next five years.
The company’s client base includes major global corporations such as Agilent Technologies, GlaxoSmithKline and Cisco, along with a number of federal, state and local government agencies.
Brookfield Johnson Controls managing director Jon McCormick said there is a clear opportunity to achieve accelerated growth in a growing market.
“Internal research values the outsourced property services market in Australia and New Zealand at $18 billion, which is expected to grow by approximately 5% annually.
“Both government agencies and corporates are increasingly looking to outsource property management functions to get innovative and professional services which can increase efficiency and deliver bottom-line value. As a result, we see a real opportunity to draw on the expertise of our two global parent companies to provide a market-leading alternative,” he added.
Johnson Controls Global Energy and WorkPlace Solutions vice president and general manager Iain Campbell and Brookfield Australia CEO Brian Kingston said this is the second partnership between Brookfield and Johnson Controls globally. The first, which was formed in Canada in 1992, providing services to more than 12.5 million sqm (134 million sq ft) in 11,500 locations across the country.
Brookfield Johnson Controls intends to begin operations from early 2013.
Property Review
