SANCTUARY Cove CEO Geoff Grady has stepped down to take a chief operating role with property developer FKP.
FKP is 22 per cent controlled by Sanctuary Cove owners Mulpha. The role will have direct responsibility for FKP’s strong portfolio of retirement, development and land assets. The company has undertaken a $173 million joint venture commercial project with the Cromwell Group at Newstead in Brisbane.
“Really it’s just an exercise where I can be used more productively,” says Grady of the switch.
“It was a great honour to undertake the CEO role and I wish all those connected in any way with this magnificent and world class community all the best for the future.
“It will be business as usual at Sanctuary Cove as the community continues to evolve as Australia’s most progressive master planned community. I look forward to assisting in the ongoing development of Sanctuary Cove’s unrivalled asset base.”
Grady was CEO of Mulpha Sanctuary Cove (Developments) Pty Limited since 2002 when Mulpha bought Sanctuary Cove. Prior to that he was a partner of KPMG and handled the management of the resort community during the 1990s.
Mulpha Australia Limited’s executive chairman Seng Huang Lee was appointed non executive chairman of FKP Limited in February. Mulpha owns significant Australian assets including Sanctuary Cove on the Gold Coast, the Inter-Continental Hotel in Sydney and Hayman Island in the Whitsundays.
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