Walker Corporation

Walker Corporation is an Australian-based privately owned property development company, with an international development portfolio in USA, Canada and Malaysia. It is Australia's largest privately owned development company, being fully owned and operated by its high-profile co-founder and Chairman, Lang Walker.

Walker Corporation
TypePrivate
IndustryProperty Development
Founded1972
FounderAlexander Walker
Lang Walker son Ian Walker
Headquarters
Sydney, NSW
,
Australia
Area served
Australia, United States, Canada, Fiji, Malaysia
Websitewalkercorp.com.au

Most notably, Walker Corporation is responsible for the development and restoration of a number of significant Australian sites, including King Street Wharf, Finger Wharf, Broadway Shopping Centre and Rhodes Waterside shopping centre in Sydney. Walker Corporation recently completed their large Collins Square project in Melbourne's Docklands and is using their IP to develop a new precinct in Parramatta, Sydney.[1] In August 2016 Walker Corporation, a major Liberal party donor, used a meeting with then Minister for the Environment and Energy Josh Frydenberg to lobby for boundary changes to reduce the size of an important internationally listed Ramsar Wetland for its Toondah Harbour apartment and retail development. The company wanted to reclaim and dredge about 40ha of the wetland which is critical in hosting around 20% of the world's migratory Eastern Curlew bird species.[2]

History

In the late 1960s, Lang Walker, along with his father Alec Walker, established A & L Walker Pty Ltd in New South Wales as a plant hire and earth moving contractor.[3] In 1972, Lang Walker founded The Walker Group, a company specialising in the new roads construction, and subdivision development. In 1977, The Walker Group began residential development activities. Throughout 1979 and 1980, the group undertook the development of a number of small office buildings and lower-density residential projects throughout southern Sydney. During the early 1980s, the Group undertook subdivision projects throughout Brisbane and Sydney. Meanwhile, Walker Constructions Pty Ltd was established to perform the construction aspects of the Group's development projects. In the late 1980s, the Group focussed on residential and industrial development projects, and civil engineering projects in Brisbane, Melbourne and Sydney. In 1988, The Walker Group was officially renamed to Walker Corporation Pty Limited. During the 1990s, Walker Corporation primarily developed residential and retail properties. During this time, the business expanded significantly. In 1993, as a joint manager with Macquarie Bank, the Walker Corporation participated in the establishment of The Industrial Property Trust of Australia, a listed property trust. In 1994, Walker Corporation was listed of the Australian Stock Exchange. Lang Walker retained his position as the Managing Director, while projects under the control of Walker Corporation Limited went on to generate over A$2 billion in sales revenue, while employing over 375 full-time staff. In 1999, Lang Walker sold his shares in Walker Corporation Ltd to Australand Holdings Limited, to focus on running his private development company McRoss Developments Pty Ltd. Walker reserved the right to reuse the Walker Corporation name after January 2003.

In 2000, Walker Corporation acquired Hope Island Resort in Queensland,[4] including an 18-hole golf course, and approximately 2,000 housing allotments.

In 2003, Lang Walker exercised his right to reuse the Walker Corporation name, renaming McRoss Developments Pty Ltd as Walker Corporation.

In 2006, Walker Corporation sold over A$1.25 billion worth of assets to Mirvac, while continuing to develop over twenty projects across retail, commercial, residential and industrial sectors.[5] In 2008, Walker Corporation began its first Malaysian development, beginning work on Senibong Cove, a mixed-use development situated across 213 acres of waterfront land in Johor Bahru.[6]

In 2010, Walker Corporation began work on Collins Square, Australia's largest mixed-use development, located in the Melbourne central business district.[7]

Completed projects

Walker Corporation is responsible for several significant development and restoration projects throughout Australia, including King Street Wharf in Sydney, Finger Wharf in Sydney, Hope Island Resort in Queensland, Broadway Shopping Centre in Sydney, and Rhodes Waterside shopping centre in Sydney.

Australia
  • Bluestone Mt Barker – a residential community situated in the Mount Lofty Ranges, and 30 minutes from Adelaide's CBD. In 2010, Bluestone Mount Barker was awarded "South Australia's best residential development" by the Urban Development Institute Awards.[8]
  • Banksia Grove – a community situated in Western Australia, 30 kilometres north of Perth, covering 338 hectares. It is located within the City of Wanneroo, and will house approximately 12,000 residents in 4,000 dwellings.[9]
  • Main Drive Kew[10] - A $400million residential development on the former Kew Cottages site in the leafy Melbourne suburb of Kew. The project is a joint venture between Walker Corporation and the Victorian Government and has been the subject of several accolades, controversies, allegations and legal disputes. Construction of stage 1 was completed in 2008 and was followed by a number of disputes between purchasers and consultants and the developers. The final stage was completed in 2014.[11]
  • Forest Springs – a $500 million master-planned Estate in Gladstone with joint-venture partner Eureka Funds Management.[12]
  • Appin Valley Residential Community
  • North Sapphire Beach[13]
  • Reflections Barlings Beach[14]
Canada
  • 46° North, Quebec[15]
Malaysia
  • Senibong Cove, Malaysia – a new mixed-use development on 213 acres of waterfront land at Lunchoo on the Straits of Johor in Malaysia.[16]
United States
  • Slopeside, Montana, USA[17]

Commercial
Collins Square, Australia's largest commercial mixed-use development, located in Melbourne's CBD
  • Collins Square – Australia's second largest commercial mixed-use development. The $3AUD billion project covers an entire city block with 190m of frontage on Collins Street.[18] The development comprises five commercial towers, 10,000 m2 of retail podium, the refurbishment of the historic Goods Shed, over 185,000 m2 NLA of commercial space. The development's NABERS-rated buildings have been granted 6 star energy ratings.
  • Axis South Morang[19]
  • Sydney CBD Office Space – 66 Hunter Street, Sydney CBD, and 12 O'Connell St, Sydney CBD
  • 150 Charlotte Street, Brisbane[20]
  • DEEWR Headquarters

Industrial
  • Citiswich Business Park – QLD[21]
  • Vicinity Industrial Base – SA[22]
  • Monaro Industrial Park – ACT[23]
  • North Point Industrial Business Park – QLD[24]

References
  1. Lenaghan, Nick (9 January 2019). "Green light for last two Walker towers". Australian Financial Review.
  2. "Developer lobbied Frydenberg to de-list area of wetland for Queensland's Toondah Harbour complex". the Guardian. 11 August 2020. Retrieved 12 August 2020.
  3. "Lang Walker from Earth Mover to Real Estate Billionaire". RealEstateEntrepreneur.com. Retrieved 11 June 2012.
  4. Shipley, Lee. "Hope Island lights up". Bay Journal. Retrieved 11 June 2012.
  5. Klan, Anthony. "Mirvac closes on Walker portfolio". Wall Street Journal. Retrieved 11 June 2012.
  6. Ariff, Syed Umar. "Senibong Cove sets milestone". Business Times. Malaysia. Retrieved 11 June 2012.
  7. Williams, Bethany (2 November 2013). "Collins Square is the biggest". Docklands News. Retrieved 19 April 2014.
  8. "Urban Development Institute of Australia". Retrieved 15 February 2012.
  9. "Banksia Grove - Homes and land for sale just north of Perth Western Australia". Retrieved 15 February 2012.
  10. "Main Drive Kew". Retrieved 15 February 2012.
  11. "Trouble in Kew". Retrieved 15 February 2013.
  12. "Financial Review - Walker's $500m Gladstone estate under way". Retrieved 15 February 2012.
  13. "North Sapphire Beach". Retrieved 15 February 2012.
  14. "Reflections Barlings Beach". Retrieved 15 February 2012.
  15. "Resort 46N | Where breathing has an address".
  16. "Senibong Cove". Retrieved 15 February 2012.
  17. "Slopeside at Big Mountain, WHITEFISH, Montana". Retrieved 15 February 2012.
  18. "Collins Square | 735 Collins Street, Melbourne | Five Towers, One Vision". Retrieved 15 February 2012.
  19. "Axis South Morang Lifestyle Centre North Melbourne". Retrieved 15 February 2012.
  20. "150 Charlotte Street – Brisbane – Walker Corporation". Retrieved 15 February 2012.
  21. "Citiswich Business Park". Retrieved 15 February 2012.
  22. "Vicinity Industrial Base". Retrieved 15 February 2012.
  23. "Monaro Industrial Park". Retrieved 15 February 2012.
  24. "North Point Industrial Business Park". Retrieved 15 February 2012.
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