Business Confidential: Property, development, business news and gossip

THERE’S been a lot of speculation about the future of this major real estate group in Brisbane and now the boss has confirmed those “who culturally did not suit the business have moved on”.

Chesterton International's executive chairman Shaun Douglas says the business is being realigned with current market trends. Picture: Tim Marsden

WHAT goes on behind the closed doors of Queensland’s biggest board rooms? Our insiders are here to spill the beans on all that’s happening in the world of business and property.

IN WITH THE NEW, OUT WITH THE OLD

It’s all happening at Chesterton International.

Executive chairman Shaun Douglas says speculation over CI Australia taking over Chesterton International in Brisbane is off the mark, with CI Australia’s Sydney office severing its ties with the Chesterton Group two years ago.

But he says the 30-year-old-plus agency has been realigning the business with current market conditions over the last few months.

“In part those who culturally did not suit the business have moved on. We’re excited about the future direction of the business and will be making further announcements in the coming months,” Shaun told Business Confidential.

He says as part of this realignment, Chesties is divesting it’s long-term office at 100 Wharf St because it no longer meets its requirements.

Shaun says that the business has been “reshaped” Chesties will continue to grow in its areas of focus.

“This has resulted in five new people being employed in the last two months,” he says.

“As always there are external challenges to our business which we have met throughout the years, and will continue to do so. To this day we still maintain one of, if not the largest, privately owned property agency in Queensland.”

MARRIAGE MADE IN DESIGN HEAVEN

Cottee Parker, lead architects for the city’s $3 billion Queen’s Wharf integrated resort development, has consolidated its interstate footprint, merging with well-established Sydney practice JPRA.

JPRA has an almost 30-year history in Sydney while Cottee Parker has delivered city-changing signature projects in Brisbane, Melbourne and Perth.

Cottee Parker director Martin Timms will lead the merged entity, with JPRA’s founding directors Ian Poole and Dennis Rabinowitz continuing as consultants.

Cottee Parker-JPRA director Martin Timms and Rob Cottee at the Queens Wharf Development site.

Mr Timms said JPRA’s reputation in Sydney was based on delivering strong design outcomes for high-quality projects.

“The merged practice will have a strong depth of talent that will benefit from Cottee Parker’s trademark blend of innovation and commercial insight,” he said.

“Our shared point of difference is great client service and a balance of design and commercial outcomes.”

The Sydney practice will be known as Cottee Parker-JPRA.

IT’S TIME TO MOVE ON

Ben Griffin says the Griffin Group will be rebranded as Geon Property to reflect its current direction. Picture: Wesley Monts

Queensland-based property company Griffin Group has changed its name to Geon Property in a bid to move away from its family-name to a brand that reflects its contemporary business.

Managing director Ben Griffin said while a company rebrand often signalled future intent, the move to Geon Property reflected an evolution of the family company into an institutional business.

“Making the change to Geon Property is actually about our brand name and look to catching up to where we have been as a company for quite a while,” he said.

“We took the business so far as Griffin Group and have secured a couple of substantial projects ahead of ASX-listed entities.

“This success confirmed to us that we were on track for growth and greater market prominence and as such we felt we needed a brand that was more in sync with the company we had become.”