This article is from the Australian Property Journal archive
SHANE Quinn’s Quintessential has appointed former chief innovation officer of ASX-listed shopping centres owner Vicinity Centres Justin Mills to be its new CEO.
Mills has over 25 years of experience business development and innovation within the property and retail sectors.
“We are excited to have Justin Mills join Quintessential as we expand our influence in the property market,” said Shane Quinn, Quintessential’s executive director.
“Justin’s proven track record in driving significant growth and innovation across the property sector and drive to optimise customer and commercial outcomes is a perfect match for our strategic ambitions.
“His leadership strength and commitment to operational excellence are poised to lead our company to new heights.”
Mills recently served as head of retail asset management at Holdfast/Parkstone Funds Management, where he helped create a non-discretionary-based retail fund strategy and played a key role in their most recent acquisition. This included asset due diligence, capital raising, asset integration, and the successful management and leasing of the asset since settlement.
Mills started with the Gandel group in 2002 at Melbourne megamall Chadstone Shopping Centre. He has continued to work on major assets, including the DFO portfolio, premium CBD assets, and a national portfolio with assets under management valued at over $20 billion.
As chief innovation officer at Vicinity Centres, Mills transformed commercial value through strategic initiatives with a team of 130 professionals in data science, consumer insights, technology and new business innovation. He led the development of Australia’s largest and retail solar program and established new operational income streams that enhanced profitability.
“We also extend our deepest gratitude to Richard Lucas for his dedicated service as CEO. Under his leadership, Quintessential has achieved significant milestones and robust growth, setting a solid foundation for future success,” Quintessential said.
Quintessential in winter completed its $250 million acquisition of the 240 Queen Street in Brisbane’s CBD, at a 17% discount to peak valuation, in its second major counter-cyclical play within a year. That followed its $293.1 million purchase of 1 Margaret Street in Sydney in 2023, bought at a 21% discount to its peak value and is to be repositioned by Quintessential.
At the end of 2022, it spent $73 million buying the landmark 30 Pirie Street office building in Adelaide’s CBD, where it also owns the 100 King William Street tower
