Peter’s Journey – An Update

Last time we checked in with Peter it was August 2018, he was a fairly new addition to the Viranda team and even the job title was different. Fast forward to November 2020 and the label has shifted from Property Manager to Senior Asset Manager. Ultimately it’s still a very client-led role, but he is also working in a leadership capacity with the team of Asset Managers, which is a tribute to his excellent people skills.

Meanwhile, if the business-gods had told Peter that his team would scale up and double at about the same time as a global pandemic – causing mayhem among clients, and remote working with new staff, it would all seem rather surreal. But according to Peter, a challenge or two keeps things fresh.

1. 1. What’s your focus for supporting clients right now?
      Stability in a changing environment, locking in rent renewals and guidance on doing rent reviews in a compassionate manner with tenants (especially when business is challenging). There is a lot of energy and advice to share around the differing assets and how they have changed. Industrial is still going strong, while office and retail demand is flattening off.But we’re also transacting strong levels of deals at the moment, particularly with clients who have money to invest in the $1-1.5M vicinity. It’s been a fascinating few months.
   2. Off the back of COVID, what’s the general mood like for clients at the moment?
      Cautious optimism! Definitely there’s an understanding that we’re not done with C19 yet, but in general our clients are grateful to have quality tenants and buildings generating an income. There is plenty of speculation about 2021 but also lots of people looking to invest further – pushing their equity and risk tolerance as far as possible.
   3. What’s the best investing book you’ve read?
      Hard question as I tend to read industry-related info online, and most of my learnings come from being ‘in the job’ and staying across property 24/7. But I would recommend that potential clients study the commercial real estate market, review property deals for insight, and of course talk to Viranda!
      If you’d asked me about general business books, my go-to titles would be:

      What Got You Here Won’t Get You There by Marshall Goldsmith
      Winners and How They Succeed by Alistair Campbell
      Tribe of Mentors by Tim Ferriss