The GPT Group

Today we released our 2024 Interim Result. Our CEO, Russell Proutt said: “GPT’s first half performance reflects the strength of the Group’s diversified portfolio and our disciplined approach to capital management. We remain on track to deliver on 2024 full year guidance provided earlier in the year and declared a distribution of 12.0 cents per security for the first half.   “With a $34.4 billion Management Platform, including $22.1 billion across funds, partnerships and mandates, and deep operational capability, our business is in an excellent position to meet the challenges and opportunities of the market.” Financial Highlights • Funds From Operations of $309.1m or 16.14 cents per security • Adjusted Funds From Operations of $258.4m and an interim distribution of 12.0 cents per security • Net loss after tax of $249.4m, with investment property valuation declines of $566.8m • Net Tangible Assets per security of $5.36 • Gearing of 29.6% within the stated range of 25% to 35% and liquidity of $1.4b Operational Highlights • Executive Team appointments (CEO, CFO, CIO) • Investment Portfolio occupancy of 98.1% including heads of agreement • Assets Under Management increased to $34.4b • Commenced as investment manager for Commonwealth Superannuation Corporation portfolio on 1 April 2024 For more on our 2024 Interim Result, visit: https://lnkd.in/gTKUPyyb

We recently welcomed a new store at Melbourne Central for global athletics brand, New Balance. Located in the heart of Melbourne’s CBD, the store spans 300 square metres, making it the largest of its kind in Australia. Catering to fashion-forward individuals and fitness enthusiasts, shoppers at the ‘Uncommonly Common Concept’ store can now enjoy the full New Balance range at the centre, including iconic lifestyle and performance collections and sought-after products made in the USA and UK. #GPT #ExperienceFirst

Launch events for the 2024 Property Council of Australia 500 Women in Property program took place recently across the country. As National Sponsor of the program since its inception, GPT were thrilled to have representatives speak at the events including Chief People Officer, Jill Rezsdovics and Product Manager and Reporting Lead, Pavithra Krishna (PK) in Sydney, National Customer Experience Manager, Office Robyn Renzow and Property Manager, Logistics Alice Logan Edwards in Brisbane, Senior Retail Manager, Scott Jensen in Melbourne, and Karrinyup Shopping Centre General Manager, Trudy Cook in Perth. Highlighting the importance of the initiative, Jill Rezsdovics said: “More than 3,600 women have participated in the 500 Women in Property program to date, which reflects the quality of its content, the commitment of the sponsors and importantly the passion of the participants. Industry networking, forging connections, sharing ideas and learning from the experiences of others has never been so valuable, and can have meaningful, lasting impacts on participants. When we think about that in the context of women, sponsorship is a key element helping us solve the representation equation, particularly in the property industry.” Speaking to her reflections as a participant in last years’ program, Pavithra Krishna (PK) said: “I was eager to grow both personally and professionally, aiming to deepen my understanding of the property industry and develop my leadership skills through exposure to successful leaders and experts. My journey was greatly enriched by my sponsor, John Garry, whose pragmatic approach made me immediately feel at ease discussing various topics.” Congratulations to GPT’s 500 Women in Property 2024 program participants and sponsors. For more information visit: https://lnkd.in/g-EgWiG #500womeninproperty #GPT 

We recently welcomed a new concept flagship boutique for iconic Australian jewellery and handbag brand, Mimco, at Highpoint Shopping Centre, providing shoppers with access to an exclusive new-season preview.    Embodying the evolved brand essence, the concept represents Mimco’s femininity and cool girl edge, with finishes and store design that draw inspiration from the materials and personality in the brand products; leather, mixed metals, bold colour and confident design.     Highpoint shoppers have enjoyed a Mimco presence at the centre for 14 years, and the reinvigorated space is an exciting evolution of the brand journey for the iconic retailer and its customers.

GPT is proud to be announced as a Workplace Gender Equality Agency (WGEA) Employer of Choice for Gender Equality (EOCGE) 2023-25 having been named for the fifth time consecutively. The EOCGE citation encourages, recognises and promotes organisations' active commitment to achieving gender equality in Australian workplaces. The renewed citation is a testament to GPT’s strong focus in this space in addition to our #5 rank overall and #1 in the property sector globally by Equileap in its Gender Equality Global Report, certification as a Family Inclusive Workplace by Family Friendly Workplaces and our recent Property Council of Australia ‘People First’ Award. Our people are empowered when everyone feels represented and has a sense of belonging, and GPT believes a diverse and inclusive workplace contributes significantly to a high performing workforce. While we are proud to be recognised by WGEA, we know there is more work to be done in achieving gender equality, and GPT is committed to our gender diversity targets and to measuring our progress and identifying further actions we can take to ensure our work environment remains inclusive and engaging for everyone. 

Congratulations to all of the winners announced at our recent Quarterly Recognition Awards. These awards acknowledge and celebrate examples of where our people have brought to life GPT’s Values. We recognise our people are pivotal to our ability to deliver on our strategy, and their passion and expertise drive our business forward. Recognition Award winners for the June 2024 quarter are: Derek Doyle, Scott Jensen, Erin Kent, CFA and the ServiceHub Project Team. A Special Award also went to our Tech Team for their magnificent management of the recent ‘blue screen of death’ global outage. Individuals that reached significant service award milestones were also acknowledged at the event for their loyalty, contribution and commitment to the company over an extended period. Congratulations and thank you to our Service Award recipients: ◾ 25 Years: Scott Crellin, Linda Burgess, Tania Hardin ◾ 15 Years: Linda Julyan ◾ 10 Years: Marc van Hilten, KONRAD Gutknecht, Claire Henderson, Christine Marie Pagdanganan-Besa, CPA, Catherine Dunn, Victoria Spelina ◾ 5 Years: Chris Barnett, Heidi deHaas

As part of our ongoing relationship with Western Sydney University, GPT was delighted to be the headline sponsor for the inaugural Western Sydney University NAIDOC Week Gala Dinner, hosted by the Division of the Deputy Vice-Chancellor Indigenous Leadership.   Held in the Peter Shergold Building at WSU’s Parramatta campus, the event included a powerful address from WSU Chancellor Jennifer Westacott AO and the granting of a series of awards to honour deserving Indigenous staff and students recognising their commitment to academic excellence. GPT has awarded a scholarship for indigenous students at WSU for a number of years and we look forward to developing our continued partnership with the University in this space. Find more information on the inaugural WSU NAIDOC Awards here: https://lnkd.in/gVqqyWw9

We are pleased to share that The GPT Group has received a Bronze Award at the Australasian Reporting Awards for our 2023 Annual Report.     Celebrating excellence in annual reporting across the Asia-Pacific region and beyond, the Annual Report Awards aim to improve the quality of annual reporting and raise public awareness of the purposes of organisations and their achievements.     The Awards provide all organisations that produce an annual report an opportunity to benchmark their reports against the ARA criteria which are based on world best practice and their peers.     View our 2023 Annual Report here: https://lnkd.in/g4mg36HS

In some exciting news, Queen & Collins has been selected to host the ‘Retrofitting Our Cities’ panel as part of the iconic Melbourne Design Week Festival, Australia’s largest and leading annual design festival. In collaboration with BVN Architecture, Breathe, University of Melbourne and KTA, Martin Ritchie, GPT’s Head of Office, will be joining a diverse panel to discuss how bold, sustainable architectural interventions and urban design initiatives can transform buildings into premium commercial assets and mixed-use prospects. This conversation will explore how revitalising structures can enrich CBD pockets, creating vibrant community hubs. The selection of Queen & Collins as the host venue is a testament to its award-winning design and ‘Experience First’ focus. The radical adaptation of three neo-gothic inspired buildings and a rejuvenated office tower co-located on a high-profile corner block of Melbourne’s CBD, highlights our commitment to innovative and sustainable urban development. Find out more about the panel discussion here: https://lnkd.in/gJzGABSb

At GPT we are taking a transformative approach to sustainability reporting. Providing a dynamic window into our ever-evolving environmental, social and governance (ESG) initiatives to create a living sustainability story, our new sustainability website is not just a report, it's a journey. A chance to see how our approach adapts and improves over time. Explore live data, delve into the latest initiatives and programs, and download comprehensive reports whenever you need them.  Join us as we strive for a positive impact for people, place and planet, driven by innovation and a commitment to making a difference, sustainability.gpt.com.au