Lucille, a graduate of the University of Pretoria, joined Atterbury in 2000 and is one of the longest-serving executives in the company. In 15 years she has gained experience in every part of the business, and has run the asset management division, with a portfolio currently worth R17 billion, for a decade.

Tell us a bit about your background and how you ended up working for Atterbury.
I was born and raised in Pretoria. I’m one of three children and have an older sister and younger brother. Both of them have their own businesses; I’m the only one who works for someone else! I started with Atterbury “by accident”. It was 2000 and I’d just sold my share in a restaurant – so ironic that I did that long before I knew I would be running shopping centres! My friend was the receptionist in the building Atterbury was occupying, and heard that they were looking for someone to assist with the sales on vacant stands in the Woodlands Lifestyle Estate, Atterbury’s first residential development. I went for the interview and was offered the third job at the young company; the rest, as they say, is history.

Who is Lucille at home? We believe this year you’re having a milestone birthday – do you have any bucket-list plans for that?
I have two cats and two Yorkies, and my hobbies mostly entail anything outdoors, from walking trails and camping to kite surfing. My special present for my 40th was the birth of my baby boy on 18 November 2014: he keeps me very busy but very happy. I did find the time to have a great 40th birthday celebration! As for my bucket list, I’m fortunate that I’ve done a lot already and next up is a catamaran trip around the islands in Croatia, which we’re doing at the end of June! That’s to celebrate my friend (and colleague) Heloise van Niekerk’s 40th.  And watch this space for the next one to be ticked off, hopefully before year end…

You must travel extensively with all Atterbury’s expansion projects, what is your favourite destination? Is there a territory that you personally would love Atterbury to expand into to give you the opportunity to do business there?
The obvious favourite is Mauritius… although we never have enough time to enjoy and explore the island. With Atterbury’s rapidly expanding business we don’t have a lot of time to ponder where we’d really like to go ourselves, but there must be a reason – and it’s no accident – that we’ve decided Europe is next!

What are the benefits for a company such as Atterbury to offer not only development, but also management of property?
Firstly it puts us in the position where we not only develop the assets, but retain and continue to grow these as one only can if they’re owner-managed. Without being arrogant, one of our greatest strengths in asset management is that we can really sweat the asset to extract the maximum value without compromising it. This strength is being recognised in the industry and it results in not only new deals being introduced to us, but also, in cases where owners don’t necessarily want to exit the asset, Atterbury being invited to co-invest with them. This gives us the opportunity to own assets that we might not otherwise have had access to.

What do you think are the most important principles of managing assets – and do the same principles apply in SA as does in the rest of Africa, and Europe?
Most important is to consistently stick to the basics, not get distracted by other issues, and then to make a decision and follow it through. In reviewing Atterbury’s success it’s evident that the secret lies in the speed at which decisions are made and the follow-through. That doesn’t mean we don’t sometimes make the wrong decisions, but we’re also good at recognising and admitting mistakes, and then rectifying them. We use the same principle to continuously re-evaluate the operations – income and expenses – of an asset. It may sound simple, but it’s very challenging to maintain a fresh eye when looking at assets continuously, to be able to evaluate its operations; and sometimes recognise that a previous decision might not have been the best one. One of our strongest attributes, which has helped us to adapt in new territories, is that we thrive on challenges. Yes, our 15 years experience does help, but it really is the team’s tenacity that pulls us through every time.

What are the best lessons you’ve learnt about managing assets outside of SA?
That two is better than one. Our success outside of South Africa is directly linked to the partners we work with; it is a matter of association… And also it is to accept that things will happen that you have no control over. You must know this, plan for this and then handle it when it happens. And lastly, always remember that you’re outside of South Africa and you can’t try and do business the same way we do back home. You can rely on your experience and the principles that always work for you, but you must find the best way to do business in the country that you’re in.

How does one go about finding the right local partner in a foreign territory?
It is two-fold. Firstly, you have to go out there and find them. It’s hard work and doesn’t happen overnight. Atterbury explored Africa for five years before we found the right partners. Secondly, because we’ve been in business for so long, and we’ve built the reputation that we make good partners, sometimes business does find us. But this process never stops, even in South Africa, while we remain very loyal to our existing partners, service providers and tenants, we are continuously looking for new relationships. New partnerships, such as the one with Fatti, are what keeps us in the forefront of delivering the best service and product there is on the market.

In your experience, is it unavoidable to learn lessons the hard way, or are there sure-fire ways of getting the most out of a development? Can you share a story of a valuable lesson learnt only once you were operational in a different territory?
It is unavoidable, but the success lies in how you resolve the issue and learn from it going forward. One of the hardest and most expensive lessons we’ve learnt was the implementation of the sewer treatment plant at Mall of Mauritius. In South Africa we’re very fortunate to have a very good sewer system but outside of South Africa it is a different story. But the lessons learnt there has set us up for success in Africa!