admin In most careers, reaching a plateau often signifies a time to settle into comfort or retire. Yet, some individuals surpass these ceilings with such momentum that they break through to new realms of success. Shaun Bonétt epitomizes this relentless pursuit of excellence. As the Founder, CEO, and Managing Director of Precision Group, Bonétt has propelled his company to the forefront of Australia’s property investment sector. Precision Group, a leading private property investment entity, has played a pivotal role in numerous landmark retail and commercial developments across Australia.
“It started with one small shopping centre in South Australia, and over almost three decades became a thriving portfolio of property assets and diversified interests in other innovative businesses,” Shaun reflects.
Precision Group’s impressive A$1.2 billion portfolio features prominent properties like Adelaide Central Plaza, Port Adelaide Plaza, Brisbane’s MacArthur Central, Chevron Renaissance on the Gold Coast, Pran Central in Melbourne, and Auckland’s Shore City Shopping Mall in Takapuna.
Digital Innovation
Shaun’s impact extends beyond traditional property investments. In the burgeoning digital gift card industry, his venture Prezzee has set a new standard. Launched in 2015, Prezzee is Australia’s first e-Gift card app and achieved unicorn status in 2021 with an estimated valuation of A$1 billion.
“There’s no secret. It comes down to having the right product, deeply understanding your customer, and hard work,” Shaun states. “It’s been a wild and rewarding ride and it gets better every day.”
“We had retailers signing on in the early stages, which in turn gave me the confidence that Prezzee was on the right path.” – Shaun Bonétt, CEO & Managing Director
From Humble Beginnings
Shaun’s journey from the suburbs of Adelaide to the pinnacle of Australian entrepreneurship is marked by dedication and vision. While pursuing Arts and Law degrees at the University of Adelaide, Shaun worked as a law clerk and invested in his first property, demonstrating a keen sense of financial foresight.
“While many university students were probably partying their way through law school at that time, I was intensely saving,” he admits. His family’s move to Australia in 1978, driven by his father’s work with the World Health Organization, instilled in him the values of hard work and ambition.
“I credit my success to my mother and father, who were the source of amazing inspiration as I grew up,” Shaun says.
A Legal Career Transformed
By 1994, amidst the Australian recession, Shaun transitioned from a corporate lawyer dealing with insolvencies to a property investor. The financial turmoil created opportunities for those willing to take risks, and Shaun seized these chances to invest in distressed assets.
“When you see a company enter into administration, you realize just how many lives are being ruined. There had to be something more,” Shaun recalls. His shift to property investment was driven by a desire to build and create rather than just manage financial crises.
“We achieved a record FY2021 in every metric.” – Shaun Bonétt, CEO & Managing Director
Building an Empire
Shaun’s initial success in property investment, beginning with a neighborhood shopping center in Newton, marked the start of his business empire. His decision to go solo at a young age was fueled by his commercial legal background and a relentless drive to succeed.
“My background as a commercial lawyer gave me the confidence to go it alone,” he says. His emphasis on relationships and trust facilitated significant business growth, including Precision’s first major acquisition: the Port Canal Shopping Centre for A$36 million.
“Our business’s first decade was spent managing tight financial structured arrangements, always seeking creative ways to do things more efficiently,” Shaun explains. Over time, Precision Group expanded its portfolio across major cities in Australia and New Zealand.
Navigating Challenges
Precision’s resilience was tested during the 2008 Global Financial Crisis, but Shaun’s commitment to maintaining strong relationships proved crucial. “Meaningful relationships and compassion give me the greatest moments of joy in the good times, guide me through the bad times, and provide me with a sense of tranquil calm whenever life slows down,” he says.
During this period, Precision secured a pivotal refinancing deal with the Bank of China, solidifying their position and aligning with their values of long-term customer focus.
“Despite the current macro challenges, Prezzee is well placed to continue to thrive.” – Shaun Bonétt, CEO & Managing Director
Looking Forward
Shaun Bonétt’s career is a testament to shattering ceilings and creating new opportunities. His unwavering focus on relationships, combined with a strategic vision, continues to drive Precision Group’s success and innovation in both property development and digital ventures. Through each challenge and triumph, Shaun’s journey remains a beacon of entrepreneurial excellence and resilience.
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