Diversified property group Australand will henceforth be known as Frasers Property Australia, following its acquisition almost a year ago by Frasers Centrepoint Limited (FCL). The rebranding marks the completion of the integration of Australand with FCL’s existing Australia business, Frasers Property Australia.
Chief Executive Officer Rod Fehring explains that adopting the Frasers Property brand aligns Australand with their international parent company, and reflects their forward focus on optimising the advantages of the integrated Australian business. The Frasers Property brand will cover the business’ residential, commercial, retail and industrial developments and assets in Australia.
According to Fehring, operating under a single brand will allow them to leverage the scale and reach of the residential business in Australia. He added that their breadth of design expertise and experience across a diverse range of markets will broaden their market reach and create opportunities to develop supplementary asset classes and build alignment with FCL’s REIT platform.
Fehring, who succeeded Mr Bob Johnston as CEO earlier this month, had recently announced a new senior management team drawn entirely from senior staff within the organisation. The new appointments include Reini Otter as EGM Commercial & Industrial, Anthony Boyd as EGM Residential, and Sean McMahon to the new role of Chief Investment Officer.
Fehring reports that the Australian business is trading very strongly, with 167,500 sqm of commercial and industrial space under development, a portfolio of investment properties valued at A$2.7 billion, and unrecognised residential revenue of A$1.5 billion.
The company recently won the tender for the Edmondson Park Town Centre in Sydney, representing the second major residential site secured since Australand’s acquisition by FCL in late 2014, and contributing to a forward land bank of 15,330 units.
The Frasers Property brand will be rolled out across residential, commercial, retail and industrial developments across Australia in stages.
