New development firm launched by former Leighton executives

A group of former Leighton Properties executives have launched a new Sydney-based development company.

The company, to be known as Avenor, will focus on the development of large residential / mixed-use precincts and institutional grade commercial office projects in Australia’s major capital cities in partnership with domestic and international capital partners.

Peter Clemesha, Stephen Rayleigh and James Paver were executives with Leighton and they have also brought over other former-Leighton Properties employees Nathan Andersen (Queensland development director), Richard Bradley (head of project management), Kelvin Steel (health projects) and Andrew Coward (head of strategy and corporate affairs).

The company’s founding partners have previous experience developing many projects across Australia, including the Chifley Tower and 135 King Street in Sydney, 177 Pacific Highway, North Sydney, Eclipse Tower and One Parramatta Square (‘1PSQ’) in Parramatta, ‘Erko’ in Erskineville and the ‘Aqua’ residential tower in Bondi Junction.

Clemesha said that Avenor is taking an active approach to securing new development projects.

“We are excited to be involved in these major projects and look forward to developing long-term ongoing relationships with new and existing capital partners on further development acquisitions we are currently pursuing,” he said.

“Avenor is uniquely placed to draw upon our wide depth of experience delivering tenant-led commercial developments and large, complex residential precincts for a number of different property groups.

“Our intention is to leverage our highly skilled team’s combined experience, in order to become a major tier- one developer with national presence.

“We’re actively working with our capital partners and will be focussing on delivering enhanced returns whilst still maintaining a diligent approach to risk management, design and project delivery.”