Bobby Binning is now serving in a new position at Cromwell Property Group

Jul 17, 2018
Board and Executive Moves
Background Information
Head of Property at Cromwell Property Group
Property trust and funds manager Cromwell Property Group is an ASX listed stapled security (ASX: CMW) comprising Cromwell Corporation Limited (ACN 001 056 980) and Cromwell Diversified Property Trust (ARSN 102 982 598). The Group has a track record of developing high quality investment products and delivering growth to investors. Cromwell Property Group is a stapled security trading on the ASX. On 12 December 2006, the Group initiated trading at $1.20 with a market capitalisation of $835 million. This milestone was achieved after the successful merger of the Cromwell Diversified Property Trust with 5 Cromwell managed (together the Trust) syndicates and the subsequent stapling of the consolidated Trust to Cromwell Corporation Limited (the Company). The group had property assets of approximately $1 billion. Upon listing, Cromwell Property Group became the 17th largest listed entity in Queensland and the 190th largest listed entity in Australia. Approximately 70% of forecast distributions for the year ending 30 June, 2008, came from the Trust’s property income, with the balance coming from the ongoing management of property assets, development and projects, and fund management activities carried out by the Company and its wholly-owned subsidiaries. The Group continues to build it's portfolio of properties under management and strives to provide investors with outstanding returns. It has over $1.8 billion in assets under management and successfully services the property requirements of over 240 tenants throughout Australia. key business units Cromwell has two key business units, allowing it to maintain greater efficiencies in all aspects of its property investment activities; from equity and capital raising to property management and leasing. The two business units are: Cromwell Funds Management Limited (ABN 63 114 782 777, AFSL 33324) Cromwell Property Securities Limited (ABN 11 079 147 809, AFSL 230502) CFML and CPSL are unlisted public companies incorporated for the specific purpose of promoting and managing Cromwell's managed investment schemes. CPSL is also the responsible entity of the Cromwell Diversified Property Trust. Both CPSL and CFML have Australian financial services licences allowing them to (inter alia) provide general product advice on securities and managed investment schemes to retail clients and to operate direct property and property securities funds. Cromwell Property Services Pty Ltd (ABN 68 080 159 280) holds a corporate real estate licence and performs an ongoing role in managing the property portfolio of the Group. This includes an integrated property management strategy that is highly focused on proactively managing the lifecyle of the properties and includes all aspects of property management from acquisition, ongoing management and disposal. Cromwell Project & Technical Solutions Pty Ltd is principally responsible for arranging and overseeing major capital works at and refurbishments of, Cromwell managed properties as well as proactive engagement with consultants and contractors this also involved active management of the needs and expectations of tenants.