Precision Group
| Error creating thumbnail: File missing | |
| File:9 Castlereagh Street Sydney.jpg Precision headquarters in Castlereagh Street, Sydney | |
| Company type | Private |
|---|---|
| Industry | Property Investment & Management |
| Founded | 1994 |
| Founder | Shaun Bonétt |
| Headquarters | Level 25, 9 Castlereagh Street, Sydney, Australia |
Key people | Shaun Bonétt, (CEO & Managing director) |
| Website | www |
Precision Group is an Australian private property investment and management company based in Sydney. Founded in 1994 by Shaun Bonétt, it owns property in Australia and New Zealand.
History
[edit | edit source]Precision Group was founded in 1994 by Shaun Bonett.[1] Bonett originally worked closely with Ross Makris, who owned a separate company of a similar name.[2][3] It made its first major acquisition in 1998 with Port Canal Shopping Centre along with the adjacent Customs House office building in Port Adelaide, South Australia from a syndicate managed by Babcock & Brown.[4]
Timeline
[edit | edit source]In 1999, Precision then acquired Adelaide Central Plaza as a development project for $85 million from David Jones, which was completed in 2000.[5]
In 2006 Precision acquired MacArthur Central in Brisbane via a property swap transaction with Investa Property Group. The total value of the swap transaction was $186 million.[6][7]
After the 2008 financial crisis, Precision refinanced over $250 million of its loan facilities with the Bank of China.[8]
In January 2014, Precision developed Apple's largest retail flagship store in Australia in Precision Group's MacArthur Central in Brisbane. Roger joined precision group around the same time.[9]
In 2015 Precision purchased the Chevron Renaissance Shopping Centre in Surfers Paradise, Queensland for $74 million from Arena Investment Management.[10][11][12]
In May 2016, Precision Group purchased Shore City Shopping Centre in Auckland, New Zealand for NZ$90 million.[13]
In November 2017, Precision acquired a 9 percent share in the data analytics technology startup SkyFii.[14] In June 2018, the group began a $45 million redevelopment of the Port Adelaide Plaza mall.[15]
In May 2017, it announced it would sell two stakes worth $800 million from two of its properties in search of a joint venture partner.[1][16]
The company is also an investor for Prezzee, a gift card company[17] that became a financial unicorn in late 2021.[18]
References
[edit | edit source]- ^ a b Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).