Australian Red Cross Society
Partner were appointed by the Australian Red Cross Society to create and execute the long term national property strategy for the organisation. This work comprised a detailed strategy and financial modelling on 7 Australian sites, which was approved for execution by the National Property Committee and Board.
The Australian Red Cross was focused on making an economical decision for their donors and stakeholders in deciding to divest, hold, lease or buy in specific locations around Australia. Partner executed Stage 1 in late 2019, successfully divesting 3 underutilised sites in Melbourne, Adelaide and Brisbane with continual reference to our over overarching strategy and meeting the organisation’s goals of unconditional contracts, price maximisation and short settlement.
Partner also devised a purchaser due diligence process that gave the client the confidence on counter-party reputation and settlement risk. The overall outcome of Stage 1 was three successful sales at a total value of $70m, a 28% premium to market for the Australian Red Cross. Partner is currently undertaking acquisitions of suitable and cost-effective operational assets across the country.