One of Australia’s longest-standing property companies, Richard Noble & Company, has purchased a 50 per cent stake in Perth-based property funds manager Quadrant Investments.
Richard Noble & Company was formed in 1913 and is a property development and services agency focused on commercial, retail, industrial and residential properties and landholdings.
The company has shaped several areas of Perth for more than a century, with a hand in development and sale in suburbs such as Mount Lawley, Maylands, Bicton, Bayswater and more recently, Waterford, Bull Creek, Connolly, Quinns Rock, Success, Hammond Park, Lesmurdie and North Fremantle.
The company is led by managing director Alex Gregg, representing the fourth generation of the family-run business, and is now focused on the delivery of its clients’ land pipeline of more than 2,000 lots.
“Over a very long period of time, we have partnered with clients to develop large-scale land subdivisions,” he said.
“Progressing this into income property funds that provide a regular distribution was a natural progression, and we’ve added a ready-made, proven business, Quadrant Investments, with an established Australian Financial Services Licence.
“The acquisition of this stake in Quadrant Investments also allows us to pass on the benefits of our property expertise and knowledge to the business’s existing and new investors.
Quadrant Investments was launched in 2017 and has mostly targeted large format retail assets, with total funds under management now in excess of $50 million.
The Quadrant Investments Large Format Retail Trust No.1 comprises eight buildings over four individual titles, representing a diversified income stream from 30 tenants with a weighted-average lease expiry of five years.
Under the Richard Noble & Company acquisition, Quadrant Investments’ chief investment officer and co-owner Phillip Fogliani will assume managing director duties, while Mr Gregg will join as co-director.
Mr Fogliani said the investment into the business would not only continue its growth trajectory, but also add depth in resources and expertise to cater for that growth.
“We continue to position ourselves as a boutique investment house that co-invests with our investor partners,” he said.
“And with our active ‘hands-on’ asset management, our client partners will benefit from our competitive advantage through a dynamic, personalised and dedicated approach.”
Quadrant Investments recently secured Sydney Tools as a tenant at its Malaga premises, facilitating the industrial power tool retailer’s Western Australian debut.
“With a number of key partners already on board and after personally appraising them of our acquisition of a stake in Quadrant Investments, we are closely reviewing a number of investment opportunities to match our clients’ needs for a diversified income stream,” Mr Gregg said.