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Colliers appoints Lachlan MacGillivray as Managing Director, Retail Capital Markets

Lachlan MacGillivray, Managing Director, Retail Capital Markets | Asia Pacific, Colliers

Colliers is expanding its regional retail investment offering as demand soars, today announcing the appointment of Lachlan MacGillivray to the new position of Managing Director, Retail Capital Markets | Asia Pacific, effective immediately.

After 11 years as Head of Retail Investment Services in Australia, MacGillivray will be expanding his role and partnering with Colliers’ Asia Pacific Capital Markets experts across the region to grow the company’s market share in this highly specialised service.

“Owners of significant retail property assets operate on a global stage, and Asia Pacific is a dynamic and fast-growing market. Lachlan will work collaboratively with our market leaders across Asia Pacific to capitalise on these growth opportunities. Combining our global brand, local market experts, and Lachlan’s experience and client relationships we will accelerate the success of our valued clients,” John Kenny, Chief Executive Officer, Asia Pacific, said.

MacGillivray and his team have brokered more than US$12.1 billion in retail transactions across Australia and New Zealand. This includes the largest ever retail transaction in the Asia Pacific region for a record US$1.61 billion.

$12.8 billion was invested in Australian retail in 2021

“This move further demonstrates Colliers’ commitment to grow our Capital Markets business and I look forward to building deeper relationships with major Asian investors looking to enter the Australian retail market,” MacGillivray said. “We have seen SPH REIT (Westfield Marion and Figtree), Capitaland Trust (Greenwood Plaza & 101 Miller Street) and Link REIT (Queen Victoria Building, The Galleries and Strand) enter the market over the last 24 months, collectively investing circa $2 billion.

“$12.8 billion was invested in Australian retail in 2021, with our Colliers team responsible for 71% of total transactions valued at greater than $200 million. From the 2021 calendar year, 100% of capital was sourced from the Asia Pacific region, with a significant 86% ($10.65 billion) originating from Australia and New Zealand.

“This historically high percentage was reflective of both strong local appetite and confidence in the market, combined with the inability of Asian investors to travel internationally to Australia. We expect to see a significant rebound in Asian investment in the region in 2022 on the back of pent up demand.

“The total retail investment market itself across Asia-Pacific was worth $48.38 billion in 2021.

“All of these factors combine to make it the right time to capitalise on strong demand, whilst also building on our relationships, expertise and capability across the Asia-Pacific region,” said MacGillivray.

Colliers has also launched its Retail Capital Markets Investment Review this week, which shows a strong rebound in both investor and consumer confidence has driven investment in Australian retail assets to a record high. According to the review, there was an 82% increase in retail assets sold in 2021 compared to 2020, up from 91 to 166.

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