Colliers International welcomes Tim McIntosh amidst increased appetite for retail assets
Colliers International has expanded its Retail Investment Services capabilities in Victoria with a strategic new appointment that comes amidst ongoing demand for retail assets from a wide range of investors.
Tim McIntosh has been appointed in the position of Executive based in the Melbourne CBD office.
Mr McIntosh will work closely with Tom Noonan and the national Retail Investment Services team, led by Lachlan MacGillivray, with a focus on Victorian retail investment opportunities.
“We are excited to welcome the newest recruit to our growing national team,” Mr MacGillivray said. “Tim joins us from his previous role as an executive with Savills, where he focused on CBD and metropolitan sales.
“Tim’s presence will assist us in our continued growth within the Victorian market, where appetite for retail investment remains strong."
Mr Noonan said the continued focus on growth was being driven by a growing market share in Victoria where more than $1billion in shopping centre across 28 sales were transacted, in 2014/15. He said this number was set to increase this year.
“These record levels of retail investment activity have been driven by continued demand from private, instutional and offshore investors seeking to place their capital in strong performing centres,” Mr Noonan said.
“This ongoing demand is resulting in continued yield compression in the Victorian market and has propelled some neighbourhood centres to below 6%. This has been a result of the falling Australian dollar and continued low interest rate environment, as well as a booming housing market which continues to provide a strong foundation for the retail industry.”
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