Centennial Scales up Retail Growth Plans Hiring Lucas Forbes as Head of Retail, Capital Transactions & Funds Management

• Lucas Forbes will lead Centennial’s expansion across neighbourhood, subregional and large format retail centres
• Forbes has strong multi-sector asset experience having overseen more than $10bn in acquisitions at Charter Hall and $3.5bn in transactions at Dexus   
• His broad industry and capital transactions experience strengthens Centennial’s retail expansion strategy targeting $1bn in retail assets over the medium term  

As demand for neighbourhood and subregional retail assets gathers pace, Centennial has appointed retail acquisitions, transactions and valuations specialist, Lucas Forbes to lead its retail investment team as Head of Retail, Capital Transactions and Funds Management. 

The timing of Forbes’ move to Centennial is decisive as the active investment manager and developer ramps up its retail expansion mandate, which includes the upscale waterfront lifestyle and retail precinct at Portside Wharf in Brisbane, that settled in June, plus interests in two prominent subregional centres in Bundaberg in central Queensland and Orange in New South Wales.    

Forbes most recently led the office transactions team at Dexus and prior, oversaw more than $10bn of retail, industrial and office acquisitions at Charter Hall where he built an impressive portfolio of assets across multiple funds. 

A qualified valuer, Forbes’ in-depth knowledge of Australia’s dynamic and varied retail sector and its subsectors was honed during his early career at global real estate services and property giant, Savills.   

Centennial’s Head of Property Funds, David Cupit said Lucas’ industry connections and cross sector experience covering many asset classes, complements the broad skillsets the Centennial team brings to its longstanding network of investors and clients. 

“As Head of Retail, Lucas will lead the strategic development, performance and growth of Centennial’s national retail portfolio, which has ambitions of growing to over $1bn of assets over the next few years.” 

Joint Managing Director, Paul Ford said: “We expect to expand our retail platform quickly and Lucas will play a central role in the strategic and capital decisions across our growing retail interests including putting the Centennial ‘stamp’ on retail acquisitions, by adding value through hands-on asset management, development of surplus land and strategic leasing.” 

“Lucas joins us as the retail tailwinds are turning favourably – and we’re delighted to be bringing him on board to execute our retail growth mandate.”