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WA Industrial Property Market Continues Growth Trajectory in 2023

Jess Freeman • 23/03/2023

CW WA Industrial Team -Digby Sutherland, Melissa Haines, Alec Di Lollo, Nick Goodridge, Emma Quill & Mark Clapham

Cushman & Wakefield have again bolstered their national logistics footprint to a total of 65 industrial brokers, with the appointment of WA’s leading industrial platform, comprising a team of highly experienced operatives who have held significant market share across brokerage and capital markets sectors in the state.

The latest move sees Cushman & Wakefield’s new industrial division being led by Nick Goodridge as National Director & Head of Industrial and Logistics, Western Australia, who will work alongside Alec DiLollo and Emma Quill as Executives, Brokerage WA , and Melissa Haines as Team Coordinator.

According to Tony Iuliano, Cushman & Wakefield’s International Director, Head of Industrial & Logistics – ANZ, the past three years has seen record investment volumes into WA by institutional capital, resulting in a ‘changing of the guard’ in terms of the underlying ownership structures in the WA market.

“Despite global economic headwinds, WA is ideally placed to counter attack any challenges thanks to its strong local economy, which is outperforming most global economies, predominantly due to its booming resources market and support industries servicing this sector”.

”This trend requires a more adaptive and nationally integrated brokerage model on the ground to service the sustained demand whilst also assisting in executing the respective investment strategies, both from our local based investors and managers, as well as inbound capital from the APAC region” he said.

Newly appointed state head Nick Goodridge believes that the record year on year demand seen in the market over the past 24 months shows no signs of slowing down and will continue to surge through 2023.

‘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 said.

“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”, he said.

Mark Clapham and Digby Sutherland, Cushman & Wakefield’s Joint Managing Directors of WA both said Cushman & Wakefield has been patient in sourcing market leading teams across the country, and the addition of this leading industrial capability will significantly enhance the WA business and their service offering to clients.

“As we move into 2023, the WA industrial market will continue to offer significant opportunities for investors and occupiers alike. Our ability to provide our clients and key stakeholders with coal face intelligence around trends and developments in this sector market will be uncompromised following Nick and his teams appointment ,” said Mr Clapham.

Mr Sutherland agreed and said, “This 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”.

Nick Goodridge has over 20 years’ experience in the WA market and is a highly reputed leader in the WA industrial market with long standing, high valued relationships across the country.

Having spent the past seven years curating a leading WA Industrial team, Mr Goodridge believes his team’s ability to offer clients a stable, highly experienced and diverse service offering is 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 said.

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