Inside Leasing: Simon Johnson, PEX Property Group

Simon Johnson is founder of PEX Property Group, bringing more than 25 years of experience across Westfield, QIC, Guzman y Gomez and Haben to lead retail leasing and advisory across five states. In this exclusive Q&A, Shopping Centre News sits down with Simon to hear about his current projects, career highlights and more…

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

Simon Johnson: I began my career in 1995, completing a Bachelor of Applied Science in Property Economics at QUT before moving to London to work in retail asset management with HSBC Bank. In 2004, I returned to Sydney and joined Westfield, where I was involved in the leasing and development of major centres including Parramatta, Hornsby, Liverpool and Mt Druitt. Following the successful launch of Mt Druitt, I was promoted to project leasing manager for QIC’s $550 million Canberra Centre redevelopment.

In 2015, I transitioned to the retailer side as chief development officer at Guzman y Gomez, leading its expansion from 27 restaurants to 134 in just three-and-a-half years, including 48 new drive-thru deals. After the brand’s partial sale to private equity, I returned to the landlord side as general manager of leasing at Haben Property Fund.

In 2023, I founded my own retail leasing and advisory firm – PEX Property Group, named after my three sons – Patrick, Edward and Xavier. Today, PEX operates across five states with a team of four leasing executives, actively leasing 12 shopping centres nationwide.

SCN: Can you tell us about your current projects?

SJ: Current projects include:

1. Marsden Park (NSW) – Acting on behalf of Woolworths, I fully leased this retail development 11 months ahead of its scheduled opening, demonstrating strong market engagement and strategic tenant placement.
2. Central Park Shopping Centre (Broadway, Sydney) – Leading the repositioning of this iconic centre through the creation of a vibrant new food-and-beverage precinct, aimed at revitalising customer experience and increasing dwell time.
3. Rundle Place (Adelaide CBD) – Overseeing the retail leasing strategy for this premium shopping destination in the heart of Adelaide, with a focus on attracting high-quality tenants and enhancing the centre’s retail mix.
4. South.Point Tuggeranong (Canberra, ACT) – Managing the leasing of this major regional shopping centre, supporting its ongoing evolution to meet the needs of the growing Tuggeranong community.

5. Precinct 75 (St Peters, NSW) – Working with Coronation to deliver a retail precinct curated for health, wellbeing, and al fresco dining in the heart of St Peters.

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

SJ: It’s hard to narrow it down, but a few standouts come to mind. Leading the $550 million extension and redevelopment of Canberra Centre as project leasing manager was a huge career milestone – delivering 180 new specialty stores into the market was incredibly rewarding.

Another highlight was working with Guzman y Gomez; in just three-and-a-half years, I helped secure 107 new restaurant locations across every state in Australia, which was a major step in growing GyG’s national footprint.

Starting my own venture, PEX, in 2023 is also something I’m particularly proud of. What began as an idea has already grown into a retail leasing and advisory business operating across five states, with a talented and expanding team.

On the project side, securing the first Lune Croissanterie in New South Wales for Goodman Property Group at the Rosebery Engine Yards was a memorable win – bringing such an iconic brand into a new market felt special.

And finally, completing the Courtside Basketball deal in Port Melbourne was unforgettable. It delivered a 9700sqm flagship site that now houses the largest Nike and Air Jordan store in Australia, which was a pretty exciting outcome.

SCN: What do you love about leasing?

SJ: What I love most about leasing and retail is the people. I really enjoy building relationships and meeting new operators who have a clear vision for their business.

I also love the variety – no two days are the same. One day might be onsite inspections, the next in client meetings, structuring deals, researching the market or problem solving. And every now and then, there’s even the bonus of a business lunch!

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

SJ: Owners who are involved in the day-to-day operations. Over my time in retail leasing, I have seen business fall over when the owner walks away and leaves operations to staff. You have to be involved, watch the trends and be present.

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

SJ: I believe retailers need to have a clear brand, network plan and strategy in place rather than relying solely on a landlord’s development pipeline. That way, the commercial terms can be balanced with the right long-term fit for both retailer and the shopping centre.

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

SJ: A common misconception is that rent is the only cost to consider. In reality, a retail lease includes a range of additional commitments – things like outgoings, marketing contributions, fitout and ‘make good’ obligations, annual rent reviews, and sometimes turnover rent. All of these can add up, so it’s important for retailers to understand the full structure of the lease, and not just the base rent.

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

SJ: The biggest challenge lies in shifting consumer behaviour. Shoppers are increasingly less focused on purchasing ‘things’ and more interested in experiences that add value to their lives. This change is putting pressure on traditional retail formats that rely heavily on product sales.

SCN: What makes a successful retail/landlord partnership?

SJ: A successful retail-landlord partnership is built on open, transparent communication and a shared commitment to long-term success. Regular conversations about performance, customer trends, and future vision create alignment and allow both parties to anticipate opportunities and address challenges proactively. When retailers and landlords collaborate closely – not only on operational issues but also on broader strategy – they create stronger, more resilient businesses and more engaging shopping experiences.

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

SJ: Central Park Mall in Sydney is a strong example of a successful retail precinct. Its strength lies in the diversity of generators, bringing together university students, tourists, residents, office workers, and traditional retail customers. This mix ensures a steady flow of people at different times of day and across the week. In addition, the inclusion of cinemas and Time Zone broadens its appeal to families and children, making it a truly well-rounded destination.

SCN: Your favourite retailer and why?

SJ: My favourite food retailer is Guzman y Gomez (GyG). What stands out to me is the way the brand has evolved since its beginnings in 2006, growing from a single start-up concept into a network of more than 100 stores. Their ability to adapt and innovate has been key to this success – whether through the rollout of drive-thru formats or the expansion of their menu to cover breakfast, lunch and dinner. They’ve shown how a strong, customer-focused brand can scale rapidly while staying relevant in a competitive market.

In non-food, it’s Aesop. I admire their commitment to creating a unique, place-specific experience in every store. Each design is carefully tailored to reflect the local catchment, demographic, and even climate. So no two locations feel the same, yet all remain unmistakably Aesop. The contrast between its Canberra Centre store and Pacific Fair store is a great example of this thoughtful approach. On top of that, its strategy of offering product sampling before customers even step inside is both clever and distinctive, creating an immediate and memorable interaction with the brand.

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

SJ: My biggest piece of advice is to know your numbers inside and out. Before signing a lease, invest in a strong accountant and lawyer who can help you fully understand the financial and legal commitments you’re making. Be clear on your occupancy costs, model different trading scenarios, and ensure the rent is genuinely sustainable for your business.

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

SJ: My advice is simple: Build relationships first, and focus on deals second. Leasing is not just about transactions; it’s about people. Long-term success depends on the trust and credibility you establish with landlords, tenants, developers, management teams, and even your peers in the industry. While achieving the highest rent might seem like the main objective, the most valuable outcomes are achieved when both parties feel the deal is fair and the relationship is strengthened for the future.

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

SJ: I think technology, including AI, will play a bigger role in the leasing process over the next five years, especially for things like market analysis, data insights, and even initial tenant inquiries.

However, I don’t believe it will replace leasing agents in terms of relationships, negotiation and understanding both the landlord’s vision and the retailer’s needs. That human element can’t be replaced by technology.

• This article was first published in SCN magazine – Mini Guns 2025 edition