In the dynamic realm of retail property, women are increasingly making their mark, reshaping landscapes and redefining industry standards. In this special SCN feature, we invited nine trailblazing women who are at the forefront of the property industry. From leasing to funds management, customer and asset management, these leaders exemplify resilience, creativity and expertise in their respective domains. Their journeys and experiences not only inspire but also challenge traditional narratives, paving the way for future generations…
As Executive Director and Head of Funds Management, Melissa Kingham works closely with the Haben team on acquisitions, capital transactions, due diligence, majors leasing, investor relations and capital raising. As a Director and Responsible Manager for the AFSL, Melissa is also deeply involved in compliance and reporting. Additionally, she is Chair of the Haben Investment Committee and a member of the development PCGs. Melissa is also President of the Property Funds Association of Australia (PFA) – the peak body representing the Australian unlisted wholesale and retail property funds sector. The association represents its members, actively fosters and advocates for investment in the property funds, and provides a forum for research and education.
Tell us about your career path and how you got started in retail property?
I’ve had a long career in property and funds management, having graduated from school with a Bachelor of Applied Science (Land Economics) at UTS and have stayed in the industry until now. My career has involved all sectors of the property market. My early career focus was in commercial leasing, acquisitions and land subdivision with the Commonwealth and State Governments in Queensland. I worked on unique and one-off projects involving Defence facilities, hospital developments and compulsory acquisitions for infrastructure projects involving the Native Title Act.
I was approached by a previous manager to join Woolworths in the early 2000s and there began my career in the retail property sector. I worked at Woolworths for almost ten years and am very proud of our new store, refurbishment, and development achievements. It was an exciting time – I went on to lead the Queensland and New South Wales property teams. I did a secondment to the role of Group Manager Asset Services, which involved leading the team responsible for the property maintenance and contract management for all Woolworths brands, before stepping up to the role of Group Property Operations Manager. Post Woolworths, I joined SCA Property Group, (Woolworths divested property portfolio) and was Fund Manager for the unlisted funds. I left SCA to pursue a board career and was approached to join Haben’s Investment Committee – but the pull of the retail sector took hold again and this quickly led to me joining Haben full-time as Executive Director and Head of Funds Management with a mandate to grow the business and funds under management.
Wollongong Central, NSW
Haben is a privately owned funds management business established in 2009 by Harold and Ben Finger and focused on investment in the retail property sector. Haben owns 12 shopping centres across the east coast of Australia.
Who is someone who has inspired you?
My mother Angela is my biggest inspiration. Having immigrated to Australia from Holland as a young child, as one of ten children, life was challenging and she lost her father not long after arriving. To support the family, she left school to work and didn’t have the opportunity to study. My mother’s strength of character, ability to handle difficult situations and her drive taught us, her four children, the importance of gratitude, resilience and to make the most of all opportunities. She was not only a mother, but also a mentor and friend… roles that have been instrumental in guiding me and our family through both career and life.
What’s the best piece of advice you’ve received?
Work hard, be open to new opportunities and if someone approaches you for a new role, they often know your capabilities more than you know your own. Don’t doubt yourself!
What are your top tips for the next generation of female leaders?
Property is a career path that offers many opportunities for progress and areas of specialty. My top tips can be described in three words: target, passion and balance.
Target – When starting your career, find that segment of the market that most appeals to you and target roles that lead you to that area of specialty. Retail property offers a tremendous range of roles, and when you find that niche area that you enjoy, it will be like hitting the bullseye.
Passion – be passionate about what you do. There is nothing more infectious than working alongside someone who loves their job. Managers will seek out those who are enthusiastic, passionate and goal focused.
Balance – as the saying goes ‘balance is not something you find, it’s something you create’. A good leader knows where they are going, and can balance shifting priorities both inside and outside of the workplace. It is important to create balance and know when to prioritise your wellbeing. Having a great career, at the expense of other aspects of your life, is not success.
What motivates you to keep going?
The dynamic nature of retail property and the evolution of shopping centres is definitely motivating. The data now available to underpin investment decisions is exciting. Understanding how a retailer trades in a location, how and why a shopper chooses their local centre, and what we can do as managers to improve the performance of the asset, underwrites what we do. By viewing a centre from the lens of both a customer and retailer, we can identify opportunities for improved customer engagement, creative remixing, centre repositioning and mixed-use development. Working together as a team to unlock each asset’s potential, improve centre sales, create building efficiencies, and deliver investment returns (which include capital growth) are the drivers that appeal to me most about working in the retail sector.
Cleveland Central, QLD
How do you manage self-doubt?
I have been lucky to have some excellent mentors and sounding boards in life, including my mother and father. The importance of surrounding yourself with support, cannot be understated. Support could come from a mentor, friend, other colleagues or your team. It is also important to understand that no one goes through life without setbacks and finding that inner strength to move forward can be easier when sharing it with others who may have experienced something similar.
Proudest moment?
I have had so many proud moments throughout my career. I am always proud of each acquisition, planning approval and new store opening that either I or my teams have achieved.
Most recently, I am very proud of what we have achieved at Haben – in terms of growing the business and our team, and the awards we have received along the journey. I am incredibly proud of Haben being awarded Unlisted Fund Manager of the Year for the past two consecutive years. What makes me so proud of this, and is even more special, is the team loves what we do. The Haben team are passionate about the retail sector and creating opportunities for income growth and higher capital value. Being part of a growing business, building a highly experienced team of retail property specialists, achieving successes and receiving awards makes me very proud. We made a decision early on to be a fully integrated funds and asset management service business and provide the full suite of asset and financial management, development, marketing, leasing, and tenancy design and delivery services. This business decision has set us apart from our peers in the unlisted property sector and this too makes me very proud.
What excites you about the future?
The changing landscape of retail property is exciting. With shopping centres being the essential hubs in local communities, they offer important social spaces and proximity to infrastructure that can assist in servicing customer needs, providing last-mile logistics and solving Australia’s housing crisis. The reimagination of shopping destinations as true mixed-use shopping and living centres is a focus of the Haben team, as we plan for the integration of omnichannel retail and housing across our sites. Securing each asset’s long term outcomes and creating a large residential development pipeline is very exciting.
As President of the Property Funds Association – what do you see as the main industry issues?
The main economic issues include rising interest rates impacting returns, bond yields and softening capitalisation rates reducing valuations. The evolution of the workplace and the work-from-home phenomenon is having an impact on the office property sector.
Additionally, government policy amendments, taxation changes at both a Commonwealth and state level, and the potential impacts from the outcome of the Commonwealth Treasury Managed Investment Scheme (MIS) Review, are significant current issues for the industry. The PFA is particularly concerned about changes to the wholesale investor test restricting investor choice, business viability of the smaller licensed wholesale Australian financial services licence holders, and the future of core plus investment opportunities.
The industry has proven to be an attractive investment option for many self-managed super funds and wholesale investors with unlisted property funds having a long history of outperforming other sectors. The PFA is actively engaging with government to ensure the voices of our members, investors and advisors are heard in relation to these current issues.
This exclusive SCN feature is shared with the industry with thanks to Redpath Partners
Premium members can view the full feature in the latest edition of SCN magazine
