A featured contribution from Leadership Perspectives: a curated forum reserved for leaders nominated by our subscribers and vetted by the Real Estate Business Review Advisory Board.

The Royal Melbourne Hospital

Jodie Toohey

Mastering the Art of Property: Navigating Healthcare and Real Estate

Jodie Toohey

Jodie Toohey

I have always worked in property management. I love the fast pace and thrive on the variety and the challenges this career provides.

It's a social industry, so as a people person, stakeholder management and relationship-building are some of the elements of the job that I love.

I value relationships built with colleagues over the years - many of whom have become lifelong friends - and I reach out to them regularly, seeking guidance and advice. A career in property and real estate was inevitable - it's in my blood. The network I have and continue to develop is the catalyst for me to continue to pursue a career in real estate, and it provides me with the work ethic and drive that resonate with and impact how I do business to this day.

Old-school values and trust have always served me well, managing each asset and dollar as if it were my own. I believe in putting myself in other people's shoes. I listen. I consider. I evaluate, and then I communicate. Learning is a lifelong journey for me. Any other approach will prevent you from growing. Evolution and instinct have given me the drive to continue to develop and seek self-improvement as a leader in the industry.

Current Role

Property management can be seen as ‘A jack of all trades is a master of none, but oftentimes better than a master of one.’’

 My current role is to look after property and lease on behalf of Melbourne Health. I feel privileged to work for such a fantastic organization and provide my skill set to support those incredible people on the front line servicing our public hospital and community healthcare. The cause is worthwhile, the organization is respected, and I am exposed daily to incredible minds and interactions with people in Melbourne's growing biomedical precinct. Working with people smarter than you is a real buzz and pushes you to evolve professionally and think more critically and strategically in your role.

HealthCare and Real Estate

Healthcare and property are emerging sectors within the industry. Healthcare in Australia is a $241.3 billion industry. The post-COVID world, especially in Melbourne, has allowed traditional healthcare to be reimagined. As an asset class, healthcare offers secure long-term tenure with consistent returns and strong growth. With an aging population, long waiting lists, and technological advancements, healthcare provided in hospitals can now be done privately through day surgery and specialized clinics within the community, easing pressure on the public system. With new sites, it's also an opportunity for organizations to create more sustainable buildings and precincts that provide a one-stop location for all your general practitioners, mental health-associated specialists, and dispensary services.

While traditional asset classes like retail and office are seeing high vacancies due to changes to work-life culture, with more people working from home, this sector will continue to grow and provide an excellent option for savvy investors for a solid long-term investment.

Leadership in Property Management

The key to being a leader in property management, operational risk, and revenue generation is to be strategic and to gain as much knowledge as possible across many fields, especially with the principles of contract law facilities management, dispute resolution and negotiations. Exposing yourself to these areas and asking ‘how’ and ‘why’ will give you a wealth of knowledge across a broad range of sectors and instill you with the confidence to avoid risk, as well as see and create opportunity. Property management can be seen as ‘A jack of all trades is a master of none, but oftentimes better than a master of one.’

Strong communication skills will bridge the gap between who you were yesterday and who you will be tomorrow. Putting your best foot forward - presenting yourself well and articulating your ideas - to a range of stakeholders makes a strong and influential property manager.

Being a great leader is giving people the space to shine and sharing your expertise and knowledge through collaborations as a supportive mentor among the team, allowing people to do things with their flavor. Again, that notion of putting yourself in other people's shoes, I have always wanted to be a reason people enjoy coming to work and not a place to dread. The same philosophy can be applied to property management, and building relationships with stakeholders and trusting them to do their jobs gives people ownership, which drives reciprocity of value and high standards to achieve strong performing assets and thriving precincts.

The articles from these contributors are based on their personal expertise and viewpoints, and do not necessarily reflect the opinions of their employers or affiliated organizations.