Inside Leasing: Leigh Dunn, ISPT

2 months ago 8 min read

Shopping Centre News

As National Leasing Manager for Retail at ISPT, Leigh Dunn brings decades of experience across centre management and leasing to strategically shape the retail portfolio. This exclusive Q&A forms part of the Inside Leasing feature published in the latest issue of SCN magazine

SHOPPING CENTRE NEWS: How did you get started in retail leasing?

Leigh Dunn: My career in centre management came first. It started while I was still at university. I took on an entry-level role in customer service and administration at the Canberra Centre. That job gave me early exposure to retailers, centre management, and customers. It sparked my passion for retail property. I moved to Queensland and joined Byvan Management. That was a foundational experience. Agencies back then were great at teaching the fundamentals, something I think is often missing today. I progressed through roles like administration manager, retail manager, and centre manager, which helped me build skills in operations, customer engagement, financials, and asset positioning.

Joining Lendlease was a big step. I worked in Darwin, Sydney and Brisbane, managing diverse retail environments and major developments like Macarthur Square. Then at GPT, I took on a national lease administration role, which gave me deep insight into leasing contracts and deal structures. That’s when I really fell in love with leasing, especially the retail curation and negotiation side. After a few other roles, I was offered a leasing position in Sydney. I had strong advocates who encouraged me, many of whom are still close friends and advisers. That role marked my entry into leasing leadership, and I absolutely loved it. I went back into centre management as general manager at Rouse Hill and then at Melbourne Central, followed by another regional leasing role at GPT during Covid. It was a challenging time, but also a period of growth and resilience. After leading the leasing team at Region Group, I joined ISPT as national leasing manager for retail. It’s great to be back in Melbourne, and I’m excited to bring all my experience into this role.

SCN: Can you tell us about your current role?

LD: I lead a fantastic team responsible for leasing across our portfolio of 65 wholly owned retail centres. My role is less about day-to-day leasing and more focused on strategic portfolio management – looking ‘at how we position assets for long-term success. Right now, we’re laying the groundwork for several exciting projects, including 150 Elizabeth Street (Wintergarden) in Brisbane, Waurn Ponds Shopping Centre in Geelong, and a repositioning opportunity at Southgate in Sydney. We’re also exploring mixed-use opportunities within our neighbourhood centres, which is a space full of potential. Everything we do is aligned with our broader purpose: to invest, protect and grow the long-term retirement savings of working Australians. It’s a mission that fits perfectly with the nature of the retail assets we manage.

SCN: Do you have any career highlights – proudest moments, favourite projects, most memorable deal?

LD: It’s hard to pinpoint just one highlight because I genuinely love what I do. But if I had to choose, I’d say my greatest source of pride comes from working with talented individuals and seeing them grow into roles they never imagined for themselves. Watching their development and success unfold is incredibly rewarding. It’s those moments that give me the deepest sense of achievement.

SCN: What do you love about leasing?

LD: What I love about leasing is that it truly is the lifeblood of the retail ecosystem. It’s dynamic, constantly evolving, and full of challenges that keep you sharp. Leasing has the power to shape how people experience a space. It’s not just about filling tenancies, it’s about curating environments that resonate with communities and drive commercial success. Retail is incredibly rewarding because it’s so immediate and people-focused. You see the impact of your work every day, whether it’s a new brand opening its doors, a centre being repositioned to better serve its catchment, or a leasing strategy that transforms foot traffic and engagement. There’s a creative and strategic side to leasing that I find energising, especially when you’re working on projects that redefine how a space is used and experienced. Ultimately, it’s the blend of commercial strategy, human connection, and placemaking that makes leasing – and retail – so compelling to me.

SCN: What do you think are the key elements of a successful retail business?

LD: To me, a successful retail business is built on passion, drive, and a deep understanding of the customer. It sounds cliché but above all, understand your customer! Retail is about people – how we live, shop and connect. Businesses that truly listen to their customers and respond with relevance, authenticity and value are the ones that thrive.

SCN: When approaching a new leasing deal, what’s your philosophy on balancing commercial terms with finding the ‘right fit’ for the centre?

LD: My philosophy is that the right fit is 98% of the equation. If the fit is right, I’ll always explore how we can shape the commercial terms to make the deal work. A well-matched retailer can elevate the precinct, complement neighbouring tenancies, and create lasting engagement with the community. That’s where the real value lies – not just in the numbers, but in the impact.

SCN: What’s one misconception retailers often have about negotiating a lease?

LD: A common misconception among retailers is the tendency to clause their way out of every potential risk. It’s often unnecessary if there’s a good relationship and a commercial approach to the deal.

SCN: What major consumer or retailer trends are currently shaping your leasing strategies?

LD: Consumer and retailer trends have long influenced leasing strategies, but recently we’ve seen a noticeable shift in how people interact with retail spaces and that’s driving some exciting changes. One of the key trends we’re responding to is the growing demand for service-based and non-traditional retail offerings. We’re actively exploring opportunities to introduce tenants like vet clinics, real-estate agencies, financial services and education businesses into our neighbourhood centres. These types of businesses not only diversify the retail mix but also increase visitation frequency. Their presence reflects a broader shift in consumer behaviour.

SCN: What’s the biggest challenge facing retail leasing today, and where do you see the greatest opportunity?

LD: One of the most consistent pieces of feedback I’m seeing across the industry is the pressure of labour and construction costs. These factors are affecting the commercial viability of deals and forcing us to rethink not only our leasing strategies but also our broader commercial outcomes. It’s challenging, no doubt, but it also invites creativity. We’re finding new ways to structure deals, exploring alternative fitouts, and working more collaboratively with retailers to ensure mutual success. It’s about being solution-focused and open to reimagining what’s possible within the current economic landscape.

SCN: Which in your opinion is the best example of a good shopping centre, retail precinct or place?

LD: While there are many great examples of shopping centres and retail precincts locally and abroad, I have a particular fondness for the Canberra Centre and Melbourne Central. That may be biased because I worked on them, but these are really uniquely designed for their customer; and when I am in these places ,I do not feel like I am ‘in just another centre’.

SCN: Your favourite retailer and why?

My favourite retailer would have to be Aesop, thanks to its impeccable design, customer service, and quality products. It’s inspiring to see an Australian brand competing globally in the luxury market. Mecca is another, and the new immersive space on Bourke St is an emporium of beauty and a temple of self-care. Why wouldn’t you love them?

SCN: If you could give one piece of advice to a retailer looking to open their first store in a shopping centre, what would it be?

LD: My advice: Be a partner, not just a tenant. Success in a shopping centre isn’t just about signing a lease, it’s about building a relationship with the centre team and contributing to the broader retail environment. Understand your customer deeply, not just who they are today, but who they’re becoming. Anticipate their needs and be ready to evolve with them. Retail is dynamic, and the best outcomes happen when retailers and landlords work collaboratively, sharing insights, aligning on strategy, and supporting each other’s goals.

SCN: What advice would you give to someone starting a career in retail leasing?

For those starting a career in retail leasing, key qualities include adaptability, resilience, negotiation skills, humility and tenacity. If you don’t love it, leave it.

SCN: How do you think the role of a retail leasing executive will change over the next five years?

LD: That’s a tough question. If I step back and think more holistically, I think there is an opportunity to evolve our retail lease structures to better balance the short- and long-term needs of landlords, retailers and investors. Technology will play a major role. So, as digital tools become more sophisticated, leasing executives will need to embrace and use data, automation, and real-time analytics to stay ahead. Ultimately, the role will become more strategic and collaborative – less transactional. Those who adapt quickly, think creatively, and build strong relationships will be best positioned to lead the next chapter of retail leasing.