GENERAL PROPERTY

Quintessential Equity boosts leadership team

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QUINTESSENTIAL Equity has strengthened its leadership team with a number of key appointments, including Andrew Nicol to lead the acquisition portfolio, as the cashed-up group seeks to buy up to $300 million in office and industrial investments.

In the new role of general manager of transactions (existing assets), Nicol will oversee all aspects of the business’s existing asset transactions Australia-wide, across office and industrial properties.

Nicol brings 18 years’ experience in Australia and Europe in property investments, funds management and valuation. He previously worked at ARA Asset Management, where he was senior investment manager and led one of the largest commercial property deals of 2016, which saw ARA Asset Management purchase the landmark Southgate complex in Melbourne from Dexus Property Group for $578 million.

Prior to that, he worked with Arena Investment Management (Morgan Stanley) and Knight Frank in Australia and London. Over his career, he has been directly involved in over $4 billion worth of deals.

Nicol said that he looks forward to securing quality assets that deliver long-term value for the group’s investors and tenants.

“I’m excited to be a part of a team that has a great vision and an ability to unlock long-term, steady value on behalf of both their investors and tenants. They have a great culture and it felt like a really good fit.

“A large part of my role will be to source and acquire properties that align with the group’s strict purchasing criteria, targeting value add and core plus office and industrial assets across Australia. It will allow me to focus on what I’m passionate about which is transactions.” Nicol said.

The appointment comes as the business looks to secure up to $300 million in office and industrial assets to regenerate following a $145 million capital raise in late 2019 as part of its Master Fund No.2. Quintessential Equity currently has almost $500 million of existing assets under management.

The group has also promoted Noah Warren to head of existing assets. Warren, who has worked with the business since it was established in 2010, was previously general manager of asset management.

Quintessential Equity chief executive officer Russell Bullen said he was pleased to welcome Nicol to the team and congratulated Warren on his promotion.

“His combination of technical expertise, commercial acumen and deep understanding of the market is extremely valuable. Andrew has an excellent track record in managing risk and will ensure we continue to deliver strong and stable returns for our investors.

“I’d also like to extend my congratulations to Noah – under his leadership we have been able to achieve a tenant retention rate of 92.4%. Noah has played a critical role in ensuring that we always offer an exceptional experience for our tenants.” Bullen said.

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