Five agents in shock walkout at top firm
THERE was big news out of the CBRE bunker at Waterfront Place last week when five members of its office leasing team walked out.
We hear Mel Pikos, Michael Skarparis, James Comino, Lee Berry and Josh Poiani left the agency and there's plenty of speculation they will set up their own business.
They're all on "gardening leave" at the moment and are laying low.
Regardless, their parting will obviously leave a very big hole in CBRE's Brisbane boss Chris Butters' office leasing team.
But Butters put the best light on it saying: "We're excited about the opportunity to realign our Brisbane office leasing team to better service our clients in 2020."
It's not the first time CBRE has had to rebuild its office leasing team.
Back in February 2012, Knight Frank lured away David Howson. Andrew Carlton, Shane Van Beest and Campbell Tait.
Only Tait and Carlton still remain at Knight Frank with Howson now with Savills and Van Beest with Colliers International.
THEY say it's the barometer of the property industry and over the past few years the Property Council's annual Christmas luncheon has kept on growing.
After years at the Convention Centre at South Bank the Property Council has moved the party to the Royal International Convention Centre at the RNA Showground redevelopment in Bowen Hills.
And 1600 revellers from the big and small end of town will be celebrating the silly season on Friday at the venue in what the Property Council says will be their "biggest ever" Christmas bash.
The event has grown from the dark days of the global financial crisis which struggled to get half of the number revellers it does now.
Long time sponsors Rider Levett Bucknall are back and comedian Cal Wilson will entertain the throng.
Buildcorp and WG Architects are sponsoring the after-party drinks at Welcome Bowen Hills.
Meanwhile, a couple of the major local property players in Brisbane are celebrating Christmas in quieter surrounds.
Don O'Rorke's Consolidated Properties' annual end of financial year event in the new Fortitude Music Hall attracted more than 1500 property types.
But for Christmas Consolidated Properties will have a quieter affair at The Blackbird Bar & Grill on December 19 for staff and a few special guests including Don's good mate and
Hutchinson Builders supremo Scott Hutchinson.
The day before Scott will be marking the start of the Christmas season with staff at Hutchies whole office annual break up day party at its Toowong HQ on December 18.
THERE'S some interesting research by m3property about the healthcare sector.
Their Healthcare Whitepaper: Summer 2019 report found that relative compression of Australia's core property class returns coupled with a perfect storm of investment drivers has triggered unabated demand for Australian healthcare assets.
The report found total funds under management increased by 210 per cent in the five years to 2018-19 while year-on-year book values increased by 26 per cent a year across a group of funds which included Vital Healthcare/Northwest ($1.83 billion under management) and Australian Unity ($1.62 billion).
Foreign investors have also been a key player investing a massive $7.3 billion over the 2017-18 financial year, an outlay which more than doubled the $3.6 billion invested over 2016-17,
National director, Health, Aged Care & Seniors Living at m3property, Laila Burnet, said there were four key elements driving the market including an ageing community - the number of Australians aged 70 plus has grown 20 per cent between 2017 and 2022 - solid investment credentials, the reduced cost of capital, and a significant increase in interest from offshore.
``There is no doubt that healthcare has stepped into the limelight at a time when investors are desperately seeking yield on the back of the poor performance of core asset markets, the comparative security of Australian assets, and the prospect of more attractive returns," seh said.
``What is particularly attractive about healthcare assets is that they can generally offer relatively long WALEs which are perceived as somewhat recession proof."
The report found average yields in the healthcare sector had tightened to circa 6.1 per cent over the last 12 months as demand had strengthened, competing favourably with retail yields at 6.2 per cent for neighbourhood centres, 6.2 per cent for Industrial, and 5.21 per cent for office assets.