Colonial First State Property Management’s general manager of development, Neville Beer has resigned from the group and taken up a role at the Gandel Group of Companies.
At CFSPM, Beer headed the development team and its predecessors, Gandel Retail Management and Gandel Asset Management.
CFSPM’s acting chief executive James O’Leary said Beer has made a contribution to the shopping centres managed by CFSPM during a long and distinguished career.
“His significant achievements include the continuing redevelopment of Chadstone Shopping Centre, which is jointly owned by the CFS Retail Property Trust and entities associated with the Gandel Group of Companies,” he added.
O’Leary said CFSPM looked forward to continuing its relationship with Beer through its ongoing association with the Gandel Group of Companies.
Earlier this year, CFSPM finally acquired and renamed the CFS Gandel Retail Trust.
In October 2002, Colonial First State Property Limited, Gandel Administration Pty Limited and Gandel Group Pty Limited entered into funds management and property management joint ventures to manage their retail portfolios.
The Gandel Group had the right, in the seven-year period commencing three years after the implementation date (October 03, 2002), to sell its interest in these entities to Colonial First State Property Limited.
The Gandel Group exercised that right and, as a consequence, Colonial First State Property Limited acquired the Gandel Group’s interest in Colonial First State Property Retail Pty Limited and Gandel Retail Management Pty Ltd.
Gandel Retail Management also changed its title to Colonial First State Property Management.
By Adam Parsons
