Real estate investor and manager, Cromwell Property Group (Cromwell), has promoted Chris Hansen to oversee its development and project management initiatives in both Australia and Europe.
Cromwell looks to add value to assets that it owns or manages by developing, repositioning or transforming them to increase long-term rental income and returns for securityholders, investors and capital partners. With a forecast development book in Australia estimated at A$1.0 billion (based on final completion value), Cromwell also has projects underway in Europe for its capital partners and other initiatives undergoing assessment.
“Cromwell has been adding value through proactive asset management, repositioning and refurbishment strategies since inception in 1998,” said Acting CEO Michael Wilde.
“However, in this era of low interest rates, this capability is more important than ever,” he added.
“We are looking to further increase our capacity and capability and Chris will be tasked with managing the development book across the entire platform.”
“This will include ensuring we select and successfully progress the right projects, manage risk and deliver the outcomes that securityholders, investors and capital partners expect,” he concluded.
Mr Hansen joined Cromwell in 2013 and has experience in both development and project management having worked on the $131 million refurbishment of the Qantas Global HQ and led the successful $130 million redevelopment of Northpoint Tower.
Under his remit as Head of Development in Australia, Cromwell has recently received development approvals for 19 National Circuit in Canberra, 475 Victoria Avenue in Chatswood, North Sydney and 700 Collins Street in Melbourne.
Mr Hansen will commence in the role from 1 February 2021.