When big ideas meet big thinking
Peet has been featured in the National Australia Bank’s Big Ideas campaign – with Managing Director and CEO Brendan Gore sharing our big idea of making the dream of home ownership a reality for a million Australians, and how NAB is helping achieve that goal.
The National Australia Bank has been Peet’s principal banker since 1895 – a partnership of more than 125 years that, through innovation, is helping Australians realise their dream of home ownership.
Peet has always been committed to delivering housing that is both affordable and sustainable. The flexible and innovative approach by NAB to debt funding has enabled Peet to continually acquire and develop land and to release products to market in the style, timeframe and cost that meets customer demand.
The National Australia Bank has been Peet’s principal banker since 1895 – a partnership of more than 125 years that, through innovation, is helping Australians realise their dream of home ownership.
Peet has always been committed to delivering housing that is both affordable and sustainable. The flexible and innovative approach by NAB to debt funding has enabled Peet to continually acquire and develop land and to release products to market in the style, timeframe and cost that meets customer demand.
It means we can create opportunities for homeowners, and for retail and institutional investors and public and private sector development partners with a diverse range of projects and products, and a high degree of flexibility.Brendan Gore – Peet’s Managing Director and Chief Executive Officer
In the early days of Peet, basic terms of sale were a two pound deposit and monthly repayments of a pound with no interest! Over the past 125 years, the property sector has changed substantially as the country has grown and new technologies and innovations have shaped the Australian way of life.
A few years ago, NAB and Peet pre-empted the tightening of the credit cycle and were proactive in accessing capital markets to be more in control of the company’s funding.
Today, Peet accesses the corporate bond market which has enabled the company to develop and grow its business model.
A few years ago, NAB and Peet pre-empted the tightening of the credit cycle and were proactive in accessing capital markets to be more in control of the company’s funding.
Today, Peet accesses the corporate bond market which has enabled the company to develop and grow its business model.
Peet has been a real innovator in bringing the syndication model into the property market, so we felt there was a significant opportunity to access capital markets to complement their financing model.Peter Morris, NAB’s Director – Property WA
The NAB relationship has been critical for Peet in achieving its ongoing acquisition strategy – whether it is an outright acquisition, joint venture or funds management – NAB understands that one size doesn’t fit all with debt funding.