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.
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.