All change at Donaldsons
The company plans to strengthen its retail asset management (RAM) arm, as well as its consulting, due diligence, and investment services. It has reorganized its departments, with operational, marketing and finance sections replaced by: asset management; marketing, development and research; and finance sections, respectively. The asset management department will handle many types of properties, including shopping centers, warehouses and office buildings.
The company says the changes are driven by market trends. "Our retail asset management is focused on increased capital value, increased income, experienced development and management set-up input, reduced overheads, improved cash flow, and generating additional footfall and turnover," said Bob Stevenson, managing director in Donaldsons Europe. "Donaldsons have the methodology and experience to derive these benefits alongside our property management service. Unlike many of our competitors, we are happy for our remuneration to be performance related."
Grzegorz Dudziak, asset management director at Donaldsons' Polish office, said: "The situation on the Polish commercial real-estate market has transformed rapidly over last two years. Several years ago foreign capital, primarily huge retail chains, invested in the Polish market by building shopping centers anchored by its own hypermarket brands. The management of those shopping centers was based mainly on efficient administration and costs' control. Developers, on the other hand, were in the majority of cases keeping management of properties in-house. Since last year the situation has been changing. Due to a series of investment transactions and acquisitions, shopping centers have got new owners. Investment funds or private individual investors are interested in services assuring long-term asset enhancement maximizing its return on investment. The market for professional and independent asset-management services developed. With stronger competition among shopping centers, asset management will become a crucial factor determining the success of an investment."
Donaldsons Polska currently has 150,000 sqm and over 200 leasing contracts for management on its books. The company's portfolio includes: three shopping centers (Sarni Stok in Bielsko-Biała, Ogrody in Elblag and Galeria Pomorska in Bydgoszcz); two distribution centers; and the Holland Park office building in Warsaw. The company investment department is currently involved in six investment transactions of various properties including shopping and logistic centers, acting on behalf of owners or representing specific investors.
The company says the changes are driven by market trends. "Our retail asset management is focused on increased capital value, increased income, experienced development and management set-up input, reduced overheads, improved cash flow, and generating additional footfall and turnover," said Bob Stevenson, managing director in Donaldsons Europe. "Donaldsons have the methodology and experience to derive these benefits alongside our property management service. Unlike many of our competitors, we are happy for our remuneration to be performance related."
Grzegorz Dudziak, asset management director at Donaldsons' Polish office, said: "The situation on the Polish commercial real-estate market has transformed rapidly over last two years. Several years ago foreign capital, primarily huge retail chains, invested in the Polish market by building shopping centers anchored by its own hypermarket brands. The management of those shopping centers was based mainly on efficient administration and costs' control. Developers, on the other hand, were in the majority of cases keeping management of properties in-house. Since last year the situation has been changing. Due to a series of investment transactions and acquisitions, shopping centers have got new owners. Investment funds or private individual investors are interested in services assuring long-term asset enhancement maximizing its return on investment. The market for professional and independent asset-management services developed. With stronger competition among shopping centers, asset management will become a crucial factor determining the success of an investment."
Donaldsons Polska currently has 150,000 sqm and over 200 leasing contracts for management on its books. The company's portfolio includes: three shopping centers (Sarni Stok in Bielsko-Biała, Ogrody in Elblag and Galeria Pomorska in Bydgoszcz); two distribution centers; and the Holland Park office building in Warsaw. The company investment department is currently involved in six investment transactions of various properties including shopping and logistic centers, acting on behalf of owners or representing specific investors.
