CBD Growth Underpins Melbourne Team Expansion

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Leading global commercial real estate services firm, Cushman & Wakefield has further strengthened their Victorian agency platform with the appointment of three additional office leasing team members. The expansion of the Melbourne office leasing team follows a strong year for CBD prime rental growth during 2017, significantly outpacing Sydney and Brisbane.

Joining the Victorian team at Cushman & Wakefield’s 385 Bourke Street premises is Ben McKendry who will take on the role of Head of Metropolitan Leasing, Vincent Tran as Associate Director, and Anna Perry as Manager, Office Leasing.

Ben joins Cushman & Wakefield from Colliers International, where he spent 11 years in a variety of office leasing roles, most recently as Director, Office Leasing. In his new role, Ben will lend his significant experience to the rapidly growing Cushman & Wakefield office leasing team.

Vincent will be supporting Ben within the Metropolitan Leasing team, having most recently held the position of Manager, Office Leasing at Colliers International. Vincent will also work closely with Cushman & Wakefield’s Victorian heads of Office Leasing Chas Keogh and Ben Ward.

Anna will primarily focus on the Melbourne CBD and Docklands markets. Anna spent 8 years with leading residential Agency Marshall White & Company.

According to recent Cushman & Wakefield research, Melbourne’s CBD Prime grade rent growth eclipsed that of Sydney and Brisbane, with year on year net effective growth of 7.7%. Growth in Q4 2017, of 2.4% quarter on quarter, was primarily driven by a decline in net incentives, which dipped below 30%.

These appointments follow the rapid expansion of Cushman & Wakefield’s presence in Victoria and ongoing national business growth. Commenting on these key strategic hires, Dominic Long, Cushman & Wakefield’s Managing Director, Commercial Real Estate Victoria, said, “In Melbourne alone, the team has increased by 74 per cent in six months, and we continue to attract leading talent from competitor firms”.

“Melbourne’s office leasing market continues to draw substantial levels of interest and the outlook is positive, buoyed by strong fundamentals and population growth. We expect to see constrained stock levels underpinned by increased tenant activity throughout 2018.” added Ben Ward, Director, and Joint Head of Office Leasing Victoria.

Victoria’s strong economic performance has helped drive demand for CBD office space and Melbourne’s future economic growth is expected to be driven by a continuation of current buoyant business confidence and strong private investment, particularly in the CBD where ten office developments (411,000 sqm) are currently under construction.

For further information, please contact:

Dominic Long | Managing Director

Commercial Real Estate, Victoria 

+61 402 441 074 | Dominic.Long@Cushwake.com