Asset management business Greyfield is breathing life into local communities by revitalising shopping centres – the heart of the neighbourhood.
The blokes behind the business – Matthew Nicholas and Charbel Abousleiman – specialise in retail property transformations.
“We act on behalf of landlords and specialise in bringing uses that the local community want into the asset to drive traffic into centres that have fallen away. We’re bringing centres back to their highest and best use to deliver a better shopping centre to the local catchment,” explained Nicholas.
Greyfield, which is based in Parramatta, makes a difference in two ways.
“On one hand, we make a difference for the landlords because we create a significant amount of value uplifts,” Nicholas stated.
“On the other hand, we bring a lot of value to the local community because we raise the standard of living by delivering a better shopping centre.”
In addition to helping landlords and locals, Greyfield works to support small businesses.
“When a centre isn’t thriving and there is no foot traffic, those businesses suffer. We get such gratification out of seeing these businesses do well once we’ve rebranded, relaunched, and revitalised these centres,” Nicholas stated.
“The businesses do well, the community is happy because they have better places to shop and better services to utilise, and the landlord is happy because their centre is an asset.”
To make these changes, the pair combine their expertise – Nicholas in asset/property management and property economics, and Abousleiman in urban planning and rezoning law.
“Charbel and I are opposites in our skill sets and in our way of thinking, which is what makes it a good partnership,” Nicholas elaborated.
“Our running joke in the office is that he’s Mr. Yang and I’m Mr. Ying. When we walk into an asset, Charbel is seeing things differently to how I’m seeing them, and that’s the power in it.
“If we thought the same way, that wouldn’t be helpful for anyone. We have the same energy and curiosity, but we have different ideas.”
Their ideas are now benefiting locals around western Sydney and beyond.
“A recent project was turning Kingswood Park Village into North Penrith Marketplace,” Nicholas said.
“Another centre we have done a lot of work on is large-format retail convenience centre Greenacre Square, which is closer to the inner west.
“We’re also in the process of transforming Werrington County Shopping Village which is another shopping centre in the Penrith LGA.”
With Parramatta as its base, there’s a clear focus on the west.
Find out more about Greyfield and their upcoming projects online at https://greyfield.com.au.
Ally Hall joined the team 2024, and focuses on entertainment and community stories. She is a graduate of the University of South Australia.