Novion Property Group

Novion Property Group was an Australian real estate investment trust whose portfolio was concentrated in shopping centres and other retail property interests. The business began as Gandel Retail Trust, which was listed on the Australian Securities Exchange in October 1994 with six retail assets. Its establishment was associated with property investor John Gandel, who launched the trust as a listed vehicle for retail real estate investment. For much of its earlier existence, the trust was managed by Colonial First State, the financial-services group based in Sydney. Under that management arrangement, the vehicle operated as CFS Retail Property Trust. The name reflected both its retail-property investment strategy and its association with Colonial First State. The trust provided investors with exposure to Australian shopping-centre assets through ownership stakes rather than operating primarily as a conventional retail chain or property-services brand. In 2013, the trust separated from Colonial First State's management structure. It subsequently adopted the Novion name in November 2014, marking a rebranding and a new phase as an independently positioned listed property group. The Novion identity was used for a business focused on managing and investing in a substantial portfolio of Australian shopping-centre interests. Novion's principal business activity was the ownership and management of retail property assets. By June 2015, it held shareholdings in 36 shopping centres, giving it a broad presence in Australia's shopping-centre sector. Its economic role was that of a property owner and investment vehicle, with value linked to rental income, asset management, occupancy, redevelopment potential and the performance of the retail locations in which it held interests. The company remained independent under the Novion name for only a limited period. In June 2015, Novion merged with Federation Limited. The combined business became Vicinity Centres, ending Novion's separate corporate identity. Accordingly, Novion is best understood as a predecessor listed property group within the history of Australia's major shopping-centre owners, rather than as an active standalone brand today.

Novion Property Group originated as Gandel Retail Trust, a listed Australian retail-property investment trust established in connection with property investor John Gandel. The trust entered the Australian Securities Exchange in October 1994 with six retail assets. Its structure enabled public-market investors to participate in a portfolio of shopping-centre properties and related retail real estate rather than owning individual properties directly. The trust was managed by Colonial First State for a substantial part of its earlier history. During this period it used the name CFS Retail Property Trust. The name identified the vehicle's concentration on retail property and its management relationship with Colonial First State, which was based in Sydney. The trust's business model centred on holding interests in shopping centres, receiving property income and managing the portfolio's long-term value through leasing, investment and asset-management activities. A significant organisational change occurred in 2013, when the trust separated from Colonial First State. After that separation, the business developed a distinct corporate identity and was renamed Novion in November 2014. The rebranding positioned Novion as an independent retail-property group while retaining its focus on Australian shopping-centre investments. Novion expanded or maintained a sizable portfolio of retail assets through shareholdings in shopping centres across Australia. As of June 2015, the group held interests in 36 shopping centres. These holdings made it a notable participant in the Australian shopping-centre ownership sector, although the available reference material does not provide a complete asset list, ownership percentages, financial results or details of individual centre brands. The Novion structure was short-lived. In June 2015, Novion merged with Federation Limited. The resulting business was named Vicinity Centres, and Novion ceased to operate as a separate listed property group. Its history therefore covers the transition from Gandel Retail Trust to CFS Retail Property Trust, the 2013 separation from Colonial First State, the 2014 Novion rebrand and the 2015 merger that created Vicinity Centres.

• 2015

  Merged into Vicinity Centres

  [1]Novion Property Groupen.wikipedia.org

  Novion merged with Federation Limited in June 2015, creating Vicinity Centres.

• 2014

  Adopted the Novion name

  [1]Novion Property Groupen.wikipedia.org

  The business was renamed Novion Property Group in November 2014.

• 2013

  Separated from Colonial First State

  [1]Novion Property Groupen.wikipedia.org

  The retail-property trust separated from its previous management relationship with Colonial First State.

• 1994

  Listed as Gandel Retail Trust

  [1]Novion Property Groupen.wikipedia.org

  The trust was listed on the Australian Securities Exchange in October 1994 with six retail assets. John Gandel was associated with its launch.

A listed Australian retail-property investment group offering investors exposure to shopping-centre assets and rental-income-generating commercial real estate.

• Retail property · 1994

  Shopping-centre ownership interests

  Novion's core assets were equity interests in Australian shopping centres. These holdings provided exposure to retail leasing and commercial-property income, while also allowing the group to participate in asset management, redevelopment and portfolio strategy. By June 2015, Novion held shareholdings in 36 shopping centres, although the available reference does not identify each property or the precise ownership percentages.

• 2015

  Merger with Federation LimitedM&A

  Background

  Novion pursued a combination with Federation Limited while operating as a listed Australian shopping-centre owner.

  Action taken

  The two businesses merged in June 2015 to form Vicinity Centres.

  Aftermath

  Novion ceased to exist as a separate corporate brand and its shopping-centre interests became part of Vicinity Centres.

  Source

• 2014

  Rebrand as Novion Property GroupStrategy

  Background

  Following its 2013 separation from Colonial First State, the trust needed a distinct identity for its independent retail-property business.

  Action taken

  The business changed its name to Novion Property Group in November 2014.

  Aftermath

  The Novion identity was subsequently replaced when the group merged with Federation Limited and became Vicinity Centres in June 2015.

  Source

1. 1Novion Property Groupen.wikipedia.org