Shaun Bonett

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Shaun Keith Alfred Bonétt (born January 1, 1971) is an Australian property developer.[1] He is the Chief Executive Officer and Managing Director of Precision Group, a private property investment company in Australia.[2]

Early life and education

Bonétt was born in London to parents of Maltese, Italian and French heritage. He was educated at Saint Ignatius’ College and went on to complete a Bachelor of Arts (Jurisprudence), Bachelor of Law at the University of Adelaide. He later attained a Graduate Diploma in Legal Practice at the University of South Australia.[3]

Career

While still in law school at the age of 18, Bonétt worked part-time as a clerk in Adelaide, where he used his earnings to buy his first property in the city’s suburb of Unley.[4]

Bonétt commenced work as a legal professional at the age of 21 and practiced as a commercial lawyer in the early and mid-1990’s.[5] He began his career at Thomson Simmons Lawyers before later joining Phillips Fox in 1996. During this time, he held corporate advisory roles in the commercial, property and taxation sectors.[6]

In 1993 Bonétt was admitted as a solicitor and barrister to the High Court of Australia.[7]

In 1994 Bonétt founded his own business, the Precision Group, a privately owned investment company specialising in the investment, development and finance of commercial property in Australia, particularly in the retail, commercial office and hospitality sectors. He is principally responsible for the strategic direction of the company.[8]

In 2003 Bonétt was appointed to the Board of Directors at iSelect,[9] an online comparison service that compares insurance, household utilities and personal finance products.[10] He currently holds the position of Non-Executive Director on the iSelect Board and is Chair of its Nominations Committee and the Board representative of its Diversity Committee.[11]

In 2005 Bonétt became Chief Executive Officer and Managing Director[12] at Lenders Direct, a private equity finance company operated by the Precision Group. His role involves sourcing and approving finance transactions across Australia.[13]

In May 2006 Bonétt negotiated one of the largest property swap transactions in Australia, when he swapped Precision Group's property at 160 Ann Street, Brisbane for MacArthur Central in Brisbane, in a $186 million swap transaction.[14]

In 2007 Bonétt was appointed as Chairman and Non-Executive Director at Litigation Lending Services,[15] an organisation that provides litigation funding solutions throughout Australia and New Zealand.

In 2010 Bonétt via Precision Group, was one of the first private Australian businesses to undertake various finance transactions with the Bank of China, and subsequently made submissions to the Foreign Investment Review Board ("FIRB") to enable more Australian businesses to access loans from International banks without having to first obtain FIRB approval.[16]

In August 2013 Bonétt negotiated with Tiffany & Co to open Adelaide's first international luxury retail store in Precision Group's Adelaide Central Plaza.[17][18]

In January 2014 Bonétt opened Apple's largest retail flagship store in Australia in Precision Group's MacArthur Central in Brisbane.[19]

Achievements and Honours

Knight of Malta (SMOM) awarded 14 April 2010.

Shaun Bonétt debuted on the Business Review Weekly (BRW) Young Rich List in 2006 placing third with a fortune of $220 million[20] and was ranked as Australia’s Richest Person 40 and Under in 2007/2008, before progressing to the BRW Rich 200 List in 2011.[21] Bonétt has remained listed between the two titles for nine successive years. Bonétt’s current net worth is estimated at ~$375 million, ranking him as 130th on the Rich 200 List for 2014.[22]

Memberships and Associations

Bonétt is an active member of the Institute of Company Directors and a member of the Young President’s Organisation.[23] He is also a Director of the Chinese Language and Culture Education Foundation of Australia Limited and a member of the President’s Council of the Art Gallery of New South Wales.[24]

Personal Life

Bonétt is married to wife Vanessa and has two children, Eve and Gabriel. He and his wife founded the Heartfelt Foundation in 2005[25] which focuses on assisting various charities and people under stress. The Heartfelt Foundation has supported Pathways, Youth Insearch, Sydney Children’s Hospital Foundation, Oncology Children’s Foundation, Ardoch Youth Foundation, Gawler Foundation, Bear Cottage and School Aid.[26]

References[edit]

  1. ^ “New kid on the very rich block” , The Sydney Morning Herald. 26 September 2007. Retrieved on 13 October 2014.
  2. ^ “About” , Precision Group. Retrieved on 13 October 2014.
  3. ^ “$220 million reasons to smile” , Lumen magazine, Retrieved on 6 November 2014.
  4. ^ Carter, B. “Shopping centre magnate Shaun Bonett took risks early on” , The Australian. 25 September 2008. Retrieved on 13 October 2014.
  5. ^ “$220 million reasons to smile” , Lumen magazine. Retrieved on 6 November 2014.
  6. ^ “Board of Directors” , Precision Group. Retrieved on 13 October 2014.
  7. ^ “Our Board” , iSelect.com.au. Retrieved on 6 November 2014.
  8. ^ “Board of Directors” , Precision Group. Retrieved on 13 October 2014.
  9. ^ “Our Board” , iSelect.com.au. Retrieved on 6 November 2014.
  10. ^ “Our Business” , iSelect.com.au. Retrieved on 13 October 2014.
  11. ^ “Our Board” , iSelect.com.au. Retrieved on 13 October 2014.
  12. ^ “About Lenders Direct” , LendersDirect.com.au. Retrieved on 13 October 2014.
  13. ^ “About Lenders Direct” , LendersDirect.com.au. Retrieved on 13 October 2014.
  14. ^ Manning, P. “Precision swaps offices for shops” , The Australian Financial Review. 25 May 2006. Retrieved on 8 November 2014. (Subscription required.)
  15. ^ [1], Litigation Lending Services. Retrieved on 13 October 2014.
  16. ^ Cranston, M. "Get the FIRB out of here, says Precision Boss" , The Australian Financial Review. 25 October 2012. Retrieved on 8 November 2014. (Subscription required.)
  17. ^ Tauriello G. "Louis Vuitton, Chanel and Topshop in talks to open Adelaide stores" , The Advertiser. 26 August 2013. Retrieved on 8 November 2014.
  18. ^ "Revamp for SA Plaza" , Inside Retail. 17 October 2012. Retrieved on 8 November 2014.
  19. ^ "Apple reveals flagship location" , Inside Retail. 6 January 2014. Retrieved on 8 November 2014.
  20. ^ "Wealth: simple as ABC" , The Sydney Morning Herald, 13 September 2006. Retrieved on 13 October 2014.
  21. ^ “Shaun Bonett” , Business Review Weekly, 26 May 2011. Retrieved on 13 October 2014.
  22. ^ “BRW Rich 200” , Business Review Weekly, 2014. Retrieved on 13 October 2014.
  23. ^ “Shaun Bonett” , Bloomberg Businessweek. Retrieved on 13 October 2014.
  24. ^ “Board of Directors” , Precision Group. Retrieved on 13 October 2014.
  25. ^ “Our Board” , iSelect.com.au. Retrieved on 6 November 2014.
  26. ^ “Our Board” , iSelect.com.au. Retrieved on 6 November 2014.