Cushman & Wakefield establish Victorian investment sales team Melbco
The fourth quarter of the calendar year is traditionally the busiest for commercial real estate staff changes but few could have forecast the appointments sealed at some Melbourne agencies last December and into the first months of 2023.
In the most noteworthy move, Cushman & Wakefield, which has been led by Luke Etherington since 2021, secured itself a city and metropolitan sales team poaching 11 executives – seven agents, an analyst and three support staff – from Colliers, said to have been the local market leader with a 75 per cent share between 2017-2022.
With the move, the agency now has the full and diversified coverage of Australia’s traditional ‘top four’ brokers: CBRE, Colliers, JLL and Knight Frank.
Recently produced marketing material branding the team Melbco – short for Melbourne Commercial – has it in the game for middle markets, strata office, retail, hotels, essential services and development sites.
It also now has a desk for Asia Capital Services, receiver-specific properties and Build to Rent – the latter, a relatively new concept in Australia.
Cushman & Wakefield also late last year appointed Tony Iuliano to head its industrial division; Melbourne is considered the industrial capital of Australia, with more product than Sydney.
Two years ago meanwhile, Mr Etherington poached Nick Rathgeber and Leigh Melbourne, who like Mr Iuliano moved from JLL, to lead the national capital markets team.
Cushmans targets market leader
Daniel Wolman and Oliver Hay will manage Cushman & Wakefield’s city and metropolitan sales divisions.
Leon Ma, meanwhile, heads the Asia Capital Services team.
Other agents to join include George Davies, Jeff Ha, Anthony Kirwan and Alexander Leggo.
Marcus Neill, meanwhile, an ex-CBRE agent who has been at Cushman & Wakefield since 2019, will lead the development sites and Build to Rent platform.
“This is an exciting time for the Victorian business, off the back of the firm building out market leading national commercial capital markets and national industrial capital markets teams,” Mr Etherington said.
“The wider Victorian commercial agency will benefit greatly from Daniel, Oliver and this new team’s unrivalled track record and passion for delivering best-in-class client services,” he added (story continues below).
“We continue to develop and invest in our agency business, with the view of providing our clients with the very best brokers across every market,” according to the executive.
Best years coming: Daniel Wolman
Following Mr Wolman and Mr Hay to Cushman & Wakefield is marketing manager, Holly Richards, and operations manager, Alinda Tralongo.
The team, Mr Wolman added, comprises 14 people – 10 agents and four support staff.
“Cushman & Wakefield was a natural fit for the 14 strong team, as joining a leading commercial real estate business in an extensive growth phase will help to further service clients’ needs across Victoria,” Mr Wolman said.
“With a stable economic and political environment, coupled with a growing population, demand for commercial properties including office, retail and industrial properties is expected to remain strong,” according to the executive.
“The market offers attractive yields and the potential for long-term capital growth, making it a promising investment destination for local and international investors alike”.
Other staff shuffles
Elsewhere in Melbourne, late last year, Peter Bremner left the Colliers Eastern office after 29 and a half years, and where he was a senior director, for a position with equity at Gorman Allard Shelton.
Also changing offices, to Savills, is Tim Grant and James Latos – who quit boutique agencies Dawkins Occhiuto and Melbourne Acquisitions respectively.
Lucas Gentile, meanwhile, has left Real Properties for Stonebridge – which itself poached a swag of CBRE agents during COVID.
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