This article is from the Australian Property Journal archive
AFTER experiencing growth in its logistics portfolio, GPT is changing its leadership team and organisational structure.
The changes should see GPT’s structure better align with the growing sector, while also boosting its larger operational efficiencies, with logistics now accounting for around 27% of the group’s investment property portfolio.
“The changes to our organisational structure reflect the changing dynamics of the market and our business. Logistics has become a more significant part of the GPT investment portfolio, while the office sector is seeing changes in the way customers use their space particularly with hybrid working arrangements,” said Bob Johnston, CEO of GPT.
With more growth expected in the sectors, GPT has established a separate logistics business unit, appointing Chris Davis as head of logistics.
“It is important that we have the appropriate structure and resourcing dedicated to each of these sectors to ensure we continue to be well placed for the future,” added Johnston.
Davis, who are in excess of 20 years of experience in the real estate industry, has been a major player in the group’s logistics acquisitions and developments over the last six years.
Davis will lead the integrated Logistics team including the GPT QuadReal Logistics partnership and will in his new position report to Johnston.
The group has also created a separate business unit for the office sector, with Martin Ritchie being appointed as the new head of office, also reporting to Johnston.
With 30 years of experience in the office sector and having grown the GPT Wholesale Office Fund (GWOF) to the largest wholesale office fund across the country, Martin will lead the direct investments in the office sector, while also retaining oversight of GWOF.
Meanwhile, Chris Barnett will remain in his roles as head of retail and mixed-use, while also now including the oversight of the GPT Wholesale Shopping Centre Fund.
“Furthermore, the alignment of each of our Funds within the sectors will allow our teams to operate more efficiently, enhance decision making and ensure our teams are focussed on creating value for investors,” said Johnston.
In addition to these changes, Matthew Faddy, Nicholas Harris and James Coyne will be departing GPT. Faddy having led the combined office and logistics business for six years, Harris having led growth in GPT’s fund management platform since its inception.
Coyne who served as the group general counsel and secretary will leave GPT in in April, with the current General Counsel, Corporate and Governance & Group Company Secretary for AMP Limited, Marissa Bendyk to step into the role.
“Matt, Nick and James leave a strong legacy for GPT to continue to deliver on its strategic objectives and I would like to thank each of them for the valuable contribution they have made over many years,” continued Johnston.
