Boutique commercial property services firm Handler Property has recruited retail heavyweights Oscar Harding and Nick Donaldson to lead its expansion from Queensland into the southern states, with the pair officially launching Handler Property’s office in NSW, which will also service the ACT.
Capitalising on their extensive networks and expertise, they are joined on the NSW leadership team by John Postle, who extends his existing responsibilities as Director of Asset Management for Handler’s foundation operation in Queensland.
Harding, whose retail leasing background stretches across more than two decades, says the changing nature of retail asset ownership was one critical factor in creating a ripe environment for Handler Property to expand.
“During the past few years, we’ve observed not only an ever-changing mix within the shopping centres but also a significant transformation in who is owning these assets,” Harding said. “The shift has seen new owners entering the market, as well as smaller funds with a keen interest in retail looking to expand their footprint.
“Traditionally, these assets were the preserve of institutional investment, but we’ve been mapping the trend of these major players selling to smaller funds, syndicators or high-net-worth privates, which is exciting for the industry.”
For Handler Property co-founders Nick Kelly and James Harvey, that means opportunity, with newer market entrants looking to fill gaps in their expertise.
“One of our key advantages is the real-world experience we bring to the table, allowing for best-practice, end-to-end solutions which we have now delivered to the Queensland market successfully for six years,” said Harvey.
This is demonstrated in the example of Morayfield Super Centre, which Handler Property was appointed to lease when it had long-term vacancy of more than 5,000m2.
Nick Kelly, Handler Property’s Managing Director, explains: “By analysing the centre’s client, customer and tenant needs, we were able to deliver a remix strategy which looked to differentiate Morayfield Super Centre from other nearby centres. This included bringing in a large format discount butcher, an ASX-listed discount variety store, a global fitness group’s first gym in the Queensland market, and a 200m2 cosmetic dental surgery.
“We were also able to help our client unlock further income by identifying that there was excess car parking capacity. This was then used to create a purpose-built pad site for Mexican fast-food retailer Guzman & Gomez, who were able to secure a site with 50,000-60,000 cars driving past a day. It was a true win-win scenario.”
Handler Property’s expertise spans across the six key areas of asset ownership, being: advisory; asset management; property management; facilities management; marketing services; and retail leasing.
“When you’ve worked for an institutional landlord, as our senior people have, you gain unparalleled training, an incredible network of tenants and industry colleagues, and expertise across a wide arc of areas, from informed retail mix planning to examining how an asset relates to the community in which it sits, so you can identify what might be missing,” Kelly said.
“So, you learn to be proactive in areas such as seeking out tenants, rather than simply waiting for the phone to ring. It’s embedding that drive to action and service in our team which underpins Handler Property’s ethos.”
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