This article is from the Australian Property Journal archive
GPT Group is planning to internalise the management of its fully owned industrial and office property assets.
From February next year, 16 industrial properties and office assets at 818 Bourke St and the Melbourne Central Tower, will be managed by the group.
GPT currently outsources the management of those properties to Jones Lang LaSalle.
Managing director Michael Cameron said the internalisation reinforces the group’s core business strategy on creating new revenue streams.
“With a strong track record of internally-managed retail property delivering great customer experiences and performance outcomes, we will be leveraging these skills across our industrial portfolio and into office.
“As we continue to develop GPT’s in-house property management capability we will look to extend our internally managed portfolio over time to include other assets in our portfolio including assets held by the GPT Wholesale Office Fund,” he added.
“We will maintain a very strong relationship with JLL who will continue to manage assets held by the GPT Wholesale Office Fund as well as other co-owned office assets. We will also work closely with JLL to ensure a smooth hand-over and transition process of the assets to be managed by
GPT,” Cameron concluded.
Australian Property Journal
