The Asset Management division of Colonial First State Global Asset Management is one of Australia’s largest property management and development groups with more than AUD$19.5 billion in assets under management across Australia and New Zealand and over AUD$13.8 billion in Australian retail assets. The Asset Management division of Colonial First State Global Asset Management is located at Chadstone in Melbourne and wholly owned by Colonial First State Global Asset Management, a division of the Commonwealth Bank of Australia. Asset Management is part of the Property division, which is comprised of listed and unlisted funds.
Asset Management focuses on maximising owners’ return on an asset by asset basis. To date, this has been achieved by applying its proven expertise in sustainable development, intensive asset management and strategic leasing plans.
Our history
The Asset Management division of Colonial First State Global Asset Management, formerly Gandel Retail Management (GRM), was established in October 2002 to manage and develop retail assets, principally shopping centres, on behalf of third parties.
In May 2006, when the business was wholly acquired by Colonial First State, it managed over AUD$8 billion of prime retail assets located throughout Australia. Colonial First State Global Asset Management has since expanded its capabilities beyond the retail sector and is steadily growing its operations in the office sector.
Our shopping centre portfolio
Colonial First State Global Asset Management has a long and successful history in retail property and understands how to create a successful environment for retailers and how to intensively manage retail assets to create value for owners. Our proficiency in shopping centre development and strategic acquisition will see the portfolio continue to grow and diversify.
Colonial First State Global Asset Management currently manages a high quality portfolio of 38 shopping centres and retail precincts across Australia, including Chadstone, Chatswood Chase Sydney and QueensPlaza.
Colonial First State Global Asset Management has approximately 6,000 tenants and 270 million visitors a year across Australia and New Zealand.
Colonial First State Global Asset Management also has more than AUD$2.7 billion worth of retail development projects in the pipeline, with AUD$1.4 billion of projects currently under development.
All statistics correct as at 31 December 2012.