MANAGING BRISBANE'S LARGEST PROPERTY INVESTMENT TRUST
Written on the 13 May 2011
WHEN CEO Paul Weightman (pictured) describes Cromwell Property Group’s performance over the last 13 years as having ‘exceeded initial expectations’, the former taxation lawyer could be accused of understating recent achievements.
Now boasting a market capitalisation of $687 million, $1.8 billion of funds under management and a property investment portfolio worth around $1.4 billion, the property investment and funds management company is one of Brisbane’s largest ASX-listed corporations – in fact it came in at No.17 in the annual 2011 Brisbane Top Companies edition of Brisbane Business News.
Weightman left his post as a senior partner of Freehills Brisbane to recapitalise small property syndicator Westholme Limited and co-found Cromwell in 1998 with a handful of investors.
He says the start-up spent the initial $600,000 ‘pretty quickly’, but felt the opportunity to build a Brisbane-based ‘retail syndication and funds management business’ was too good to let slip.
In the May edition, Weightman speaks about achieving his corporate goals, the city’s property investment sector and the state economy. Get your copy of Brisbane Business News now.