Bryan Hynes is stepping down from the role of Managing Director to explore the next phase of his career. During a 25-year career in the shopping centres industry, including 18 years at AMP Capital, Mr Hynes has held many senior roles including General Manager of Warringah Mall, Divisional General Manager for New South Wales, South Australia and New Zealand, and Head of Retail Asset Management. Since his appointment as Managing Director in November 2007, the Shopping Centres business has grown from A$4 billion to A$10 billion in assets under management.

Mark Kirkland, currently AMP Capital’s Head of Shopping Centre Development and a member of the Shopping Centres leadership team, has been appointed Managing Director of AMP Capital Shopping Centres effective 1 January 2017. Mr Kirkland joined AMP Capital in late 2012, has extensive experience in the real estate industry and a deep knowledge of the business and track record of delivering for investors.

AMP Capital Global Head of Real Estate Carmel Hourigan said: “With 27 years of major project experience in the property sector, 24 years of which have been focused on retail, Mark brings an impressive skill set to take our Shopping Centres business to the next phase of growth.

“Mark has been instrumental in the successful delivery of Pacific Fair and Macquarie Centre and has contributed heavily to the efforts we have undertaken to maximise the value of the existing portfolio and enhance performance for our investors.

“Now that AMP Capital has delivered these successful developments on the east coast and will be turning our attention to developments in Western Australia, it is the right time to refocus the business under new leadership and I am pleased we have such a strong internal candidate in Mark.

“I would like to acknowledge Bryan’s significant contribution to our business, most recently leading the team in the delivery of award-winning developments at Pacific Fair and Macquarie Shopping Centres. I would like to thank Bryan for the legacy he has created and his efforts in ensuring AMP Capital is best positioned to capitalise on opportunities within the real estate market.”

Greg Antoniadis will replace Mark Kirkland as Head of Development, AMP Capital Shopping Centres. Mr Antoniadis joined AMP Capital in 2016 and is an internationally-experienced property executive. His strong mixed-use capability, coupled with his core retail experience, will be valuable given AMP Capital’s strategic focus on increasing mixed-use across its Real Estate business.

Con Brakatselos, currently AMP Capital Shopping Centres Head of Investment Management and Strategy, will take on a refocused role, working closely with Mr Kirkland on strategy, acquisitions, digital and the future focus of retail. These three new appointments are effective from 1 January 2017.

In addition, AMP Capital’s extensive real estate research capability, which currently sits across the business, will be centralised into a single research team to improve the insights provided to clients and business partners. AMP Capital has created a new role – National Head of Research, Real Estate – to lead this team, reporting directly to Louise Mason, AMP Capital Chief Operating Officer of Real Estate.

A further new role of Head of Strategy and Planning will be added to Louise Mason’s leadership team. This role will lead the strategy and business planning cycle, working closely with the AMP Capital Real Estate leadership team and the broader AMP Capital business.

An internal and external search for both roles is underway.

The post AMP Capital evolves retail real estate business appeared first on AdviserVoice.

Garden City is owned by investors in the AMP Capital Diversified Property Fund (ADPF), a $4 billion portfolio of prime Australian office, industrial and shopping centre assets.

The new development is expected to include two full-line department stores, two new full-line supermarkets, large format international fast fashion retailers and flagship stores, an additional discount department store, a comprehensive main street casual dining and leisure precinct, a new cinema complex and a broad assortment of fresh food offerings.

AMP Capital Shopping Centres Managing Director Bryan Hynes said AMP Capital will create a truly exceptional shopping and leisure experience that will attract residents as well as tap into the visitor market.

“Garden City Shopping Centre is already the number one performing shopping centre in Western Australia and we want to ensure this iconic Perth destination remains the best in the state,” Mr Hynes said.

“This redevelopment, along with our plans for Karrinyup Shopping Centre, has been a long-term collaboration between AMP Capital, the state government and local councils.  Both redevelopments are major investments representing a significant boost to the economy and show AMP Capital’s commitment to Western Australia.  Across the two developments, we intend to invest more than $1.4 billion in the state, creating around 5,000 construction roles and more than 5,000 retail jobs upon completion.”

AMP Capital Diversified Property Fund Manager Kylie O’Connor said the proposed development is an exciting opportunity for customers, retailers and investors in ADPF.

“The Garden City trade area is forecast to grow from 480,000 to 555,000 by 2026 and our vision is to ensure the centre remains the premier retail destination in Perth,” Ms O’Connor said.

“The Garden City trade area is forecast to grow from 480,000 to 555,000 by 2026 and our vision is to ensure the centre remains the premier retail destination in Perth,” Ms O’Connor said.

The development of Garden City will increase the size of the centre from 72,000 square metres to approximately 120,000 square metres and if approved is expected be completed in 2019.

Garden City is managed by AMP Capital Shopping Centres and the development application is on display at City of Melville Council and Garden City until September 2015.

One of the largest, unlisted property funds in the country, ADPF has total assets of approximately $4 billion and currently comprises 18 high quality assets across the Australian office, retail and industrial property sectors, as well as units in the AMP Capital Shopping Centre Fund and AMP Capital Wholesale Office Fund.  This includes the newly-developed Macquarie Centre in Sydney, Pacific Fair on Queensland’s Gold Coast, which is currently undergoing significant re-development, and the potential development of Quay Quarter Sydney, a landmark commercial office tower located in Circular Quay, Sydney.

The post AMP Capital to invest $750m in Garden City Shopping Centre redevelopment appeared first on AdviserVoice.