2025: Active Property Management in Focus

The past two years have tested resilience across the economy, but they’ve also revealed opportunities to innovate, optimise, and enhance the performance of our properties.

As we head into 2025, our Properties Team is laser-focused on maximising these opportunities through targeted strategies that continue to add value, protect long-term returns, and position our assets for growth.

1. Cost management: value without compromise

Prudent cost management remains a key focus in the elevated interest-rate environment. On an ongoing basis, we’re reviewing supplier contracts, renegotiating terms, and streamlining operations to support the cash flow of our Schemes. In 2025, we’re building on this momentum to further strengthen performance.

“Over the past two years, as operating costs have risen sharply, our team has scrutinised every cost line across every asset and thought outside the box to deliver practical cost reduction strategies. It’s about finding smart solutions that don’t compromise on quality.” – Fabio Pagano, General Manager – Property

“Maintaining strong relationships with our funders is also critical. We work closely with them to explore more competitive agreements and ensure we are maximising favourable sustainable lending terms.” – Tom Jamieson, Asset Manager – Commercial.

2. Tenant engagement: managing risk, unlocking opportunity

Tenant engagement has been core to safeguarding value during the recessionary period, and it remains central as we look to the year ahead. Our team is on the ground, working with our occupiers every day, and this allows us to stay ahead of their needs, support occupancy, and enhance asset value for investors.

“By understanding tenants’ challenges and priorities, we can develop solutions that create long-term value for both tenants and investors. The recently secured ASB lease at 33 Corinthian Drive is a great example of how collaboration and proactive engagement benefit all stakeholders.” – Tom Jamieson, Asset Manager – Commercial.

3. Operational excellence: driving value through innovation

Efficiency is a core driver of property performance, especially in today’s challenging economic landscape. By leveraging technology and adopting smarter practices, our team continues to enhance building performance and reduce environmental impact. Read more: 2025 Sustainability in Action.

“Operational excellence isn’t just about cost savings—it’s about delivering better outcomes for tenants and investors. By integrating data-driven insights, we are achieving measurable improvements in energy efficiency, increasing tenant satisfaction and positioning our assets for growth in a shifting market.” – Jennnifer Andrews, Asset Manager – Retail.

4. Proactive leasing: a competitive edge

Proactive leasing has been essential in navigating challenging market conditions and positioning our portfolio for long-term success. By anticipating lease expiries, identifying income opportunities, and adapting to tenant needs, we’re maximising occupancy levels and enhancing asset performance.

“In 2024, a nine-year lease renewal with the IRD provided long-term certainty for both the tenant and investors, showcasing the value of strong landlord-tenant relationships. Close collaboration with the tenant ensured the property would meet their needs well into the future, delivering improved sustainability credentials, operating cost reductions, and an uplift in asset valuation.” – Tom Jamieson, Asset Manager – Commercial.

“Leasing success is about planning ahead and understanding market dynamics. By maintaining open communication with tenants and responding to their needs, we’re securing mutually beneficial agreements that support long-term asset performance and we’re excited to keep delivering on this in 2025.” – Fabio Pagano, General Manager – Property.