Centuria Capital planned to build its property business over the next six to 12 months through corporate and organic acquisition, chief executive John McBain said yesterday.
Recent simplification of the business and an improved distribution network for new products mean the company is well positioned to ramp up takeovers.
"We're going to acquire more property in the current 12 months than we did in the previous," McBain told InvestorDaily.
"We would like to see close to $100 million worth of acquisitions between now and Christmas. That's our plan and we're well positioned to do that.
"Whilst that's not a huge amount of property, it will be a good start for the financial year and I think it's what our shareholders want to see."
He said the majority of expansion was expected to be organic acquisition of properties.
Following intense concentration in the past 12 months on corporate takeovers that did not occur for various reasons, he said that focus had changed.
"There are a couple of corporate acquisitions that we're looking [at], but we're far more laissez-faire about it," he said.
"Last year we settled on one $60-million asset and that wasn't enough. We should be buying between $150 million to $250 million of assets every year."
