Nigel Satterley talks expansion and diversification into commercial real estate

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Coinciding with the launch of our large format retail precinct in Ellenbrook over the weekend, our CEO Nigel Satterley sat down with The Australian Financial Review's Michael Bleby to talk about our expansion and diversification into commercial real estate, currently underway. “Conservatively now we’ve got $500-$600 million of these assets under our control,” Satterley told The Australian Financial Review . “We’ve got an immediate pipeline for a further $500 million and we believe that we would have the potential, on an annual basis if we can get the sites, to develop at a rate of $750 million-$1 billion per year.” “We will develop neighbourhood shopping centres, convenience stores, day care centres, large format retail – where we’ve been quite successful – then we’ll be in a position to buy existing assets that come on the market.”

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