The Blueprint X Lauren Valcarcel

Written by Charlotte Conder - AUPSS Exec

Last Friday I visited the Oyster offices to meet with Lauren Valcarcel, the asset manager overseeing the Millennium Centre in Ellerslie. We discussed her career path, life at Oyster Property Group, asset management, industry trends and the value of hard work.

After graduating in 2010, Lauren applied for ‘what felt like 1000s’ of roles in commercial property management but faced a challenging job market post-GFC. 

Lauren landed her first role in the sales team at a residential apartment specialist team and not long after transitioned into the residential property management department when an opportunity arose. 

While this wasn’t her dream role, it taught her the fundamentals essential in the early stages of her career. 

Lauren then moved across the ditch to spend five years working for a property developer in Australia. She returned to Auckland working for another developer until joining the Oyster team six years ago in a commercial property management capacity. Since then, she has worked her way up, earning her role of asset manager at Millennium Centre.

During our discussion of her career path into this current role, we discussed her time at university. Lauren emphasised the value of exposure in the property degree and how well-rounded students are by graduation. 

Lauren recalled taking Mike’s (Dr Michael Rehm) construction course and visiting a nearby site. She emphasised how valuable context was to improving understanding of the components and their interaction within the building. Having completed the course last semester, I completely agree with how valuable real-life context is, to our application and understanding as students. 

We also discussed the significance of networking throughout the degree. Lauren revealed that if she could do it again, she would engage more with her cohort. She recalled Dr Deborah Levy telling students the importance of networking. "I would 100% say to get involved," Lauren advised, stressing the benefits of a robust professional network. For example, if you need evidence for a lease agreement or perspective on the market ‘it is always easier to pick up the phone and call someone you know’ but she also mentioned that you want to be front of mind for them when they need you. 

Millenium Centre

During our discussion, I learnt a lot about how connected Lauren’s role as an asset manager is to other areas in property. 

Her team of property and facility managers, handles daily operations at the Millennium Centre. She explained how asset management differed from property management as it deals with the bigger picture long-term strategy of the property including leasing, redevelopment, tenant configuration and strategic implementation. 

Lauren and her team focus on the Millennium Centre, a business park in Ellerslie at the heart of Auckland’s Southern Corridor. The property spans 3 hectares and comprises seven freestanding office buildings, ground-level retail, underground car parking, a six-level car park building, a standalone gym, end-of-trip facilities, and a tennis court. 

Beyond her immediate team Lauren spoke highly of the wider Oyster team. She mentioned how collaborative the team at Oyster is and how valuable they are to work with. 

She reemphasised how much she utilises her wider network of valuers and agents and the importance of creating those relationships throughout your career. 

It was amazing to hear how interconnected Lauren’s role is. It’s clear why there is never a boring day. 

Learning about Laurens role, I wanted to know more about some of the biggest trends affecting asset management. 

We ended up talking about the growing significance of sustainable buildings to investors. Lauren discussed some of the initiatives that she has implemented in the Millennium Centre that benefit tenants and investors.

They recently removed gas boilers to reduce carbon emissions and improve the overall energy efficiency at 3 of their buildings at the Millennium Centre and are constantly looking for ways to improve their NABERSNZ ratings, which currently range from 3 - 4.5 stars (meaning good-excellent performance).

One of the most interesting things I learnt from our discussion was about implementing smart meters and their impact on assets. Lauren explained that smart meters allow the team to increase their understanding of energy and water usage throughout their assets, creating a positive impact on the environment and the tenants OPEX. 

Before we finished the interview, I wanted to hear more about what life at Oyster looks like. Lauren praised the company for their ‘one team’ value. Throughout the interview her love for the team was evident as she expressed how she loves working there because of the people; “We have such a smart team… and its always great to bounce ideas off [the team]”. 

Lauren explained how Oyster is a close team so you aren’t limited to your area of expertise and can collaborate and learn from those working in other sectors. 

Lauren loves participating in the team culture and told me about their touch team that takes part in JLL’s annual Try for Charity tournament and the rooftop terrace where many team members socialise.

Blueprint tradition is that the final question is “What advice would give to those starting their career in property?”. Lauren had shared many valuable insights throughout our discussion, so I was eager to hear her answer. 

She said, ‘No experience is bad experience’. It was simple, yet perfect. 

She expanded on this by explaining how she felt disheartened when she didn't land her dream job after graduating. 

“If you don’t get your dream job straight out of uni, don’t be disheartened—you have your whole career ahead of you.”

Reflecting on her first job, she expressed gratitude for the opportunity and the lessons it taught her. 

“No experience is a bad experience”

"Don’t be afraid to start at the bottom and work your way up," she said highlighting the importance of hard work. She encourages us to "Muck in, because hard work will pay off by exposing you to many more opportunities.” She also advised that if someone offers you their time, give them your full attention as you can always learn from your team. 

I had such a wonderful morning hearing about Lauren’s experience and learning about her role and work at Oyster. Thank you so much Lauren, for sharing your time and insights with me, I hope our readers gain as much from it as I did.