Lang Walker’s property legacy to be driven by veteran executives

The private Walker Corporation will be now in the hands of right hand man David Gallant, with two other senior directors expected to take a greater role in the property company.

The late property tycoon Lang Walker’s legacy will continue to shape Australia’s cities with his business operations guided by the senior management team put in place by the founder ahead of his passing.

The billionaire, who passed away peacefully on Saturday at his Sydney home, had prepared for the corporate entity to keep its status as one of the country’s top developers and landlords.

While the loss of one of the top businessmen is still reverberating across the tight-knit property industry, the private Walker Corporation will be now in the hands of right hand man David Gallant and Walker’s senior directors.

Mr Gallant has worked at Walker since 1997 and has over 30 years’ experience in the development and property industry, and has led high profile development projects in Australia and southeast Asia, and driven the company’s pipeline.

Two senior Walker directors are also expected to take a greater hand in the company. Ex-Brierley Investments chief executive Bruce Hancox, who has worked for Walker since 2008, will continue managing non-property investments, as well as providing wealth and business advice.

Lang Walker with Susan Curry and David Gallant and in 2022.

Former Touche Ross & Co executive Mark Wilkinson, who worked for Walker for more than 25 years and has experience in finance, taxation and compliance, will also have a senior role.

They were positioned by the tycoon to manage the company as part of a longer-term plan aimed at ensuring it continues to build up investment assets across the full range of property assets.

The company has already flagged plans to build up its passive portfolio from an already sizeable $9bn to around $20bn in coming years by completing the projects that the tycoon had envisaged.

Walker Corp has major sites along the eastern seaboard where it is undertaking both commercial and residential projects. The housing projects take years to sell out and develop and the operation is still growing.

While Walker kept a strict focus on having the best quality buildings, a handover to management was quietly put in train last year. The tycoon travelled widely but was kept abreast of operations wherever he was in the world.

Observers said the business could take on a greater focus on investing and creating assets that could be held longer term. But the Walker Corp name will continue as the company has sites with permits for major towers.

Mr Walker is survived by his wife Sue, children Blake, Chad, Georgia and their spouses, and his 10 grandchildren. His children have held roles in the business, giving them the experience to oversee its continuing operation in the hands of the executives.

Blake Walker was involved at the company for just over three decades as director of corporate relations and worked on industrial projects, including the Vicinity Business Park in SA and other landmark projects. He also worked on the Lang Walker AO Medical Research Building Macarthur in southwest Sydney.

Chad Walker worked in the family business for more than 20 years and was previously director of its master-planned communities unit. He was involved in developing some of the largest estates, retail and residential projects, including Balmain Cove, Rhodes Waterside and Appin Valley.

Mr Walker’s daughter Georgia Vesperman has driven philanthropic investments in health, education and culture via the Walker Family Foundation and also headed the group’s marketing when it undertook developments.

Originally published as Lang Walker’s property legacy to be driven by veteran executives