Hear more about Cromwell's journey to date from CEO Paul Weightman below.
Westholme Limited, a property syndicator, is recapitalised resulting in a new Board of Directors and a name change to Cromwell Corporation Limited. Cromwell, as we know it, has commenced.
1998 – 2003
Cromwell purchases 14 properties With a value of more than $300 million IN five different Australian states from 1998-2003, Of this, $58 million becomes part of the Cromwell Diversified Property Trust (CDPT).
CDPT purchases 11 properties for $152 million. The acquisition of the landmark 700 Collins Street, Melbourne completes at a cost of $133 million, forms the cornerstone investment in the CDPT.
CDPT is merged with five smaller unlisted property trusts and stapled to Cromwell Corporation Limited creating Cromwell Property Group.
Cromwell raises $75.4 million via a placement and rights issue and acquires the Qantas Global Headquarters in Mascot, NSW for $143 million.
A portfolio of seven assets is acquired from the NSW State Government for $405 million and the landmark North Sydney building, Northpoint Tower, is acquired for $278 million. Cromwell enters the S&P/ASX 300 Index.
Expands into Europe by acquiring Valad Europe, a pan-european commercial real estate platform for $208 million. Construction commences on a new $172 million building to be leased by the Department of Social Services at Tuggeranong Office Park, ACT.
Launches Cromwell European Cities Income Fund with the purchase of a seed portfolio of three Dutch assets. Commences work on the $130 million redevelopment of Northpoint Tower.
Rebrands Valad Europe to Cromwell in order to create a consistent global brand and platform.