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Cushman & Wakefield has nabbed a new team of industrial operators across Western Australia as the state’s market goes through a “changing of the guard” of sorts.
The firm’s new industrial division will be led by Nick Goodridge, as national director and head of industrial and logistics, Western Australia.
He was formerly a senior director with JLL as the head of logistics and industrial WA.
He’ll be joined by Alec DiLollo and Emma Quill as executives, Brokerage WA, and Melissa Haines as team coordinator.
Cushman & Wakefield has lauded Mr Goodridge’s 20-plus years of experience in the West Australian market, considering him “a highly reputed leader in the WA industrial market with long-standing, high-valued relationships across the country.”
His team, which he has curated over a seven-year period, has the ability to offer clients “a stable, highly experienced and diverse service offering,” according to the director.
He sees such an offering as “irreplaceable” in the current market: “Our clients have been very clear in regard to their expectations of their agency partners, with agility, diversity, and data-backed advice being at the forefront of their ever-evolving businesses”.
“My team’s proven track record and relationships in the local market, whilst being supported by a global powerhouse like Cushman & Wakefield, will ensure we have the infrastructure and experience around us to deliver on our clients’ goals,” he continued.
The announcement brings Cushman & Wakefield’s national logistics footprint up to 65 industrial brokers.
Cushman & Wakefield’s joint managing directors of Western Australia, Mark Clapham and Digby Sutherland, divulged that the business had been patient in sourcing market-leading teams countrywide and the latest appointments come at a time when the WA industrial market will offer “significant opportunities for investors and occupiers alike”.
Mr Sutherland commented that the “newly formed team comprises highly experienced operatives with proven transactional experience across both brokerage and capital markets, who as a collective have enjoyed significant WA market share for many years.”
Mr Goodridge also sees plenty of opportunity still to come, even off the back of record year-on-year demand seen in the market over the past 24 months.
“The parity between low vacancy and limited land supply will continue to constrain future supply, which will hamper occupier activity but also trigger pre-lease strategies from tenants,” he outlined.
“Rental growth will be the story again in 2023, particularly for prime-grade assets, with logistics occupiers set to dominate the demand pool, and landlords with existing and speculative opportunities set to significantly benefit.”
It’s a perspective shared by
With record investment volumes having gone through the state’s marketplace over the last 36 months, Mr Iuliano said it had resulted in a “changing of the guard” when it comes to underlying ownership structures.
That trend “requires a more adaptive and nationally integrated brokerage model on the ground to service the sustained demand,” he pointed out.
Hence, the new-look team, which the international director explained would “also [be] assisting in executing the respective investment strategies, both from our local based investors and managers as well as inbound capital from the APAC region.”
It’s been a busy year so far for Cushman & Wakefield, which has already announced the appointments of APAC sustainability leaders Matthew Clifford and Andrew Phipps and the addition of Sydney-based directors Tony Iuliano and Adrian Rowse.
An internal promotion in February also saw Guy Bennett take on the role of managing director, CRE.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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