Industry News People

Colliers International expands retail valuation presence in Victoria

Colliers appoints experienced valuer Trent Weir.

Colliers International continues to expand its retail valuation expertise in Melbourne with the appointment of experienced valuer Trent Weir as National Director to the Retail Valuations team. Weir has been employed in the property industry for more than 14 years, establishing a strong track record across all property types with a specific focus on regional, sub-regional and neighbourhood shopping centres across Australia. He is also experienced in large format retail assets.

“Trent has been appointed as National Director to the Retail Valuations team based in the Melbourne CBD, working closely with Luke Mortimer and Andrew Johnston to continue the growth of our retail valuation presence in Victoria and Australia. Trent joins us from CBRE where he gained extensive experience in shopping centre valuations across Australia” Dwight Hillier, Colliers International Managing Director of Valuation & Advisory Services, said.

“I have developed extensive experience in providing professional valuation and consultancy advice for a wide range of purposes particularly financial reporting and mortgage, transaction due diligence, asset advice and market rent assessments/submissions,” Weir said.

“I am extremely excited to join Colliers International and become part of this well regarded Valuation and Advisory team. It is no doubt an interesting time in the retail market and I am priviledged to be able to provide expert advice to shopping centre owners, buyers and financiers, he said

In addition to Weir’s valuation experience, he has also recently worked as a real estate agent selling shopping centres in Victoria, with some recent notable transactions being Tooronga Village for $63 million on behalf of Stockland, Brimbank Shopping Centre for $150 million on behalf of Blackstone and Burwood One Shopping Centre for $180 million on behalf of the Hansky family.

Burwood One, located on Burwood Hwy

Clients that Weir has acted for in recent times include AMP Capital, QIC, GPT, Vicinity Centres, ISPT, Blackstone, Dexus, Stockland, LendLease, Abacus, SCA Property Group, BWP Trust, Newmark, Arkadia, Perron Group, Coles, Woolworths, Harvey Norman, Aventus and all major banks.

“After a slow start to 2019, investment demand in the second half of the year picked up significantly, however total deal volume in the retail sector was still down 20% on 2018,” Weir said.

“A reasonable level of stock has already hit the market as owners look to capitalise on the late surge in demand from last year”, he said.

 

About the author

Shopping Centre News

Shopping Centre News (SCN) is in the ‘information business’, and is perceived as such by its readers. Daily industry news makes shoppingcentrenews.com.au a must-visit as part of the morning routine for those who want to keep right across the latest retail developments and events, while SCN's premium magazine is the leading publication for the shopping centre industry in Australia and New Zealand.

Known as the ‘industry bible’ SCN is printed five times a year with fascinating, in-depth features and important critical analysis written by known industry insiders as well as the popular ‘Guns’ reports, which ranks Australian shopping centre performances. Shopping Centre News is the only publication in the world that features centre statistics on Turnover, Turnover per square metre and Specialty Shop turnover per square metre for every major centre in Australia.

Add Comment

Click here to post a comment

Advertisement

Advertisement