Name: Julie Fawcett
Job title: CEO, Auriens Group
Why I got into the property industry: I worked in social housing straight out of university – I was young and idealistic – now I am older and realistic, but I still have some faded ideals somewhere
My first proper job: Chief executive of a tiny, tiny special needs housing association – it grew very quickly as we saw an opportunity and innovated rapidly. One of my original management team is CEO now and it’s a significantly larger and more complex organisation, still doing amazing things.
My first big break: I’m not sure I had one big break, but I definitely benefited from the mentorship and guidance of others along the way who gave me plenty of support and breaks. I wove my way through the social housing field, then out into my own business (my real MBA) and then back into property via impact investing.
My inspiration(s): Big horizons – the world is a vast and incredibly inspiring place. It’s easy to get lost in the details that ultimately don’t matter and don’t move the dial – we all need to remember to look up.
The biggest challenge I’ve encountered to date: Probably starting my own business – it was the hardest thing I have done on every level. Switching from an idealistic not for profit career into private equity also came with its challenges and getting through Covid was a horrible time – not least dismantling a whole hotel chain and selling the sites individually.
My greatest achievement/proudest moment to date: The exits are always good – they are the ultimate test of whether you created stakeholder value. I am also pretty proud of studying for an MBA whilst working full time – it took three years of my life, but it was worth it. But like my first big break, I don’t think I can point to just one proud moment. These days I get most of my kicks from things like bringing a good team forward and delivering excellence for the customer – in fact, both of these things are the secret to great performance in almost every case.
The biggest misconception people have about the property industry (can be specific to later living): Later living is as junior as its customer is senior, so there are numerous things that we are learning generally as sector. It is easily one of the most operational of the real estate classes and you have to be incredibly adaptable an operator as a result.
People’s needs change rapidly as they age, so a one-size-fits-all approach doesn’t work – the key is flexibility. As a sector, later living has often avoided because of its reputation and perceived risk, but failing to make it part of the core offer is the greater risk. We’re fortunate as Draycott Nursing & Care, one of the UK’s most established care providers, is part of Auriens Group and provides nurse-led care to all of our residents.
Flexibility also applies to tenure. Not everyone wants to buy their later living home, so diverse occupation options are essential. The sector has based its strategy on the ageing population and the shortage of housing for over-65s, but we haven’t fully unlocked demand because we’ve focused more on de-risking the property side than understanding what customers actually want. As an industry, we are starting to crack that code, and as we continue to evolve around customer needs, the later living sector has more potential than any other real estate asset class. Right now, it’s an opportunity waiting to be unlocked.
My biggest bugbear about the industry/the one thing I would change about the industry: The later living industry needs scale and better policy support. It also needs to move away from being a developer towards being a great operator.
Why I’m so passionate about DE&I: I am a woman married to a woman… and even writing that here, in this day and age, feels like a big declaration and risk – and it shouldn’t. If we removed all the friction that people in the margins experience before they sit down at their desk each day, we would not only have a happier workforce – but also have a stronger, more productive and profitable one.
The data proves it. Even now in my 50s with numerous degrees, CEO, PE and NED roles under my belt, being a woman in the workplace is just not as easy as it should be. I’m fortunate to work with many men who understand that -both my leaders and my team. That makes us a better, stronger company.
Where I’d like to be in five years’ time career-wise: I love my job and I would love to be a part of the next round of later living growth. It’s not an easy sector to get to grips with but once you do, it gets under your skin. The customers are a joy and the opportunity and need are clear – later living can have a huge impact on social care and health. At the same time, overheads, growing a profitable business and delivering decent shareholder returns are fundamentally in my DNA and the other side of the job that I really love. We need to consolidate as a sector and create scale – I am definitely here for that.
Who I’d invite, living or dead, to a dinner party: There are plenty of people I’d love to share a table with, to spar on politics and the future of the world, but I would also like to have some reasons to be cheerful so academic Hans Rosling would be a great guest – I love his optimism and visualisations that remind us of all there is to be positive about. I’d probably also invite my mum, I think they would get on and she is the smartest person I knew – physicist, pilot, teacher and loved a good diagram.
What I do in my downtime: I like sitting down sports. I have a yacht that I race with friends and a shed with one too many mountain bikes in it. I also love being in the garden with the dog and the chickens.
The job I’d be doing if I was not doing this: I’ve considered politics but I’m not the best at sucking up to people.
My advice for someone just starting out: Be you – figure out who that is, don’t be afraid of it, turn it into a virtue. If you can’t be you in a role, then it’s the role that’s wrong, not you. Work hard, but don’t forget to play. Be part of the solution – don’t be the person who just sits around admiring a problem. Find great people and ask them to help you – they will be delighted.., mostly.
My motto/mantra: Do it right.
