Colliers makes its mark on the WA market with outlook industry event
Colliers recently hosted a WA Market Outlook event attended by over 100 prominent industry players from Perron Group, Charter Hall, Primewest, Hawaiian, Hesperia, Urbis, Stockland, Woolworths, City of Perth and Perth Airport at Quay Hotel overlooking Elizabeth Quay.
Basil Zempilas, Lord Mayor of Perth, officially welcomed guests with an brief overview of the development pipeline for Perth CBD, particularly the exciting revitalisation of the waterfront precinct at Elizabeth Quay.
He referenced the five new towers due for completion in the next three to five years, which will add 10,000 visitors a day to the corridor. He also pointed out the mere 750m proximity the precinct will have to Hay Street Mall, Murry Street Mall, Yagan Square and the new landmark Edith Cowan University campus, set to move into the heart of the CBD.
The Colliers Australian Executive Team, including Australian Chief Executive Officer, Malcom Tyson, travelled to WA to join the local Perth team for this event.
The event featured a short panel discussion by Colliers experts Lachlan MacGillivray, Managing Director of Retail Capital Markets, Asia Pacific; Jemma Hutchinson, National Director, Office Leasing; Lisa Hinde, Head of Sustainability and Gavin Bishop, Managing Director, Industrial and was facilitated by Richard Cash, State Chief Executive | WA. This discussion reinforced the attractiveness of the WA market amongst both local and international investors across asset classes, the positive outlook for the office leasing market as well as the diversification of tenants within this sector.
"We have seen the sharpest decline in vacancy in 10 years, The positive net absorption in West Perth is an outstanding performer and will only get better. Mooted developments are on the rise with a number of projects closer to fruition, as demand soars across the CBD for good quality office space. What we are finally seeing is diversification in tenant demand across Perth, you now have tech mining services coming into play as we move more toward automation, we also have renewables dominating the demand as rare earth minerals ramp up here in WA’’ Its not only your professional services expanding there are new entrants in the game now” said National Director for Office Leasing, Jemma Hutchinson
The event followed Colliers' move into a larger workplace at 200 St Georges Terrace the week prior, due to the rapid growth of the business.
State Chief Executive for WA, Richard Cash said “we have been pleased with the amount of high-quality talent that has expressed interest to join Colliers owned operation in Perth. Over the next few months, we will continue to expand our service offering to the WA market and make further high-calibre appointments from industry professionals in WA. Our new location provides us with an elevated platform to support our continued growth and ensure we continue to maximise the potential of the business to accelerate the success of our clients.”