A specialist investment manager has opened a new office in Brisbane, with plans to expand its assets across the Queensland state.
Centuria Capital has boosted its Brisbane presence, reporting that it has seen strong growth in assets under management (AUM) across the Queensland market over the last 12 to 18 months.
Jason Huljich, joint chief executive for Centuria said the Brisbane market is already constituting around 20 per cent of the company’s AUM.
The Queensland portfolio now consists of 43 assets with more than 100 tenants and a portfolio value of around $1.6 billion.
“The opening of the office is in line with company’s strategy to accelerate AUM growth, with Brisbane a favoured market,” Mr Huljich said.
“The new Brisbane-based team, including asset management, property management, facilities management and distribution staff, [is] excited about the opening of the 348 Edward Street office and look forward to further expansion of the group in the state.”
The company acquired the property its new office is housed in, within the Brisbane CBD late last year for $89 million.
It will initially have nine staff, including the newly appointed general manager of Queensland, David McGuigan. Mr McGuigan was formerly CBRE’s head of asset management.
Commenting on the new position, Mr Guigan said: “With the proven growth and growth targets that Centuria [is] looking to achieve in South East Queensland, as well as the belief in a hands-on approach to managing property, it is perfect timing to establish a Brisbane presence and maintain a local presence.”
As at the end of last year, Centuria had $7.3 billion of AUM.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].