directionsa magazine for young property professionals

who we arechairman’s address

the future directions committeenews [perth office market strength]

event wrap-up & snapsup-coming events

industry news

inside:

november ‘11

Future Directions is a Property Council committee comprising a group of young lead-ers working to promote, provide and coordinate networking mediums for young profes-sionals. The committee: - Actively acknowledges contributions made to WA property by young professionals - Coordinates events to provide both educational and networking opportunities to young professionals; and- Strives to promote careers in WA property and enhance university graduate interest.

who we are

THE WRAP UP

chairman’saddress

Friends, colleagues and sponsors, welcome to the final edition of the 2011 Future Directions E-news. The year is almost over and it has definitely been one of mixed emotions. Investment inflow into WA continues to maintain an impressive rate which has kept all of us in the property and other associated industries incredibly busy. The local economy is somewhat sheltered from global influences but, as the GFC demonstrated, we are not com-pletely immune.

Earlier in the year we were off to a flyer when global recovery appeared in hand and most were convinced that prosperity was nigh. All that seemed to fade rather quickly when malaise struck Europe as their debt crisis unravelled. While I think and hope that the impact will not be significant on WA, a global perspective I think definitely has merit.

As far as Future Directions is concerned, I think it is fair to say that we have had an excellent year. Five events were coordinated which included the “Are we back in boom-town?” panel event, the Meet the Leaders evening, the Young Achiever Awards and finally the up and coming End of Year sundowner to be held 1 December. Ad-ditionally we brought the industry Touch Rugby Tournament back from the 1990’s. We had well over 200 young professionals participate in a round robin competition, where Brookfield took out the championship trophy.

On a sadder note, after four years of being involved with Future Directions, I have now taken the opportunity to step off the committee giving other young professionals the chance to become involved in what I think is one of the most exciting initiatives governed by the Property Council. I’m also pleased to advise that Alwin Bax from Knight Frank will be stepping up as committee Chairman to take the reins and continue the momentum that has been achieved to date.

Finally I wish to sincerely thank our sponsors. This year we have had overwhelming support from a number of organisations and with that support we have been able to make our events bigger and better than ever. So a big thanks to Hays Recruitment, Airlite Group, SGA Property, Hames Sharley and Brookfield Multiplex.

I hope to catch you for beverage at the End of Year sundowner, but if not, have a very merry Christmas and all the best for the New Year.

Cheers,Antony.

Antony CrosslandHawaiian

committeeWilliam de Haer

Property Council of Australia

Senior Policy Adviser

Antony Crossland

Hawaiian

Asset Manager

Erin Meikle

Property Council of Australia

Commercial Manager

George Rolfe

Brookfield Multiplex

Senior Development Manager

Sharmila Kanagalingam

Cameron Chisholm Nicol

Architectural Graduate

Chris Wiese

Port Bouvard

Business Development Analyst

Arun Broadhurst

Hames Sharley

Principal

Lucas Berry

Mirvac

Development Manager

Rebecca Wotzko

Hays Recruitment

Recruitment Consultant

Tim McMinn

BG&E Pty Ltd

Structural Engineer

Michael Ruescher/Asher Packard-Hair

Wood & Grieve Engineers

Structural Engineer/Civil Engineer

Chris Carey

Commonwealth Bank

Relationship Executive

Stuart Davis

Airlite

Business Development Manager

Alwin Bax

Knight Frank

Property Manager

Perth’s City Link

THE WRAP UP

newsExecutive DirectorJoe Lenzo

The Property Council-ANZ inaugural survey of business confidence in the property indus-try shows that WA is leading the nation; however a two speed sector is also emerg-ing. Property Council of Australia Executive Director Joe Lenzo said the survey confirms WA is the national hotspot for non-residential property invest-ment and development. “Property investors and developers in WA were mostly confident about prospects for the non-resi-dential sector, including the commercial office and retirement living sectors. The tourism and leisure sector recorded the weakest level business confidence in the WA property industry,” Mr Lenzo said.

...Western Australia recorded an index reading of 122.3 in the September quarter,

which is some 18 percentage points above the national average of 104.1...

“ “

...This is already being reflected in rap-id growth in office market absorption which has reduced vacancies to the tightest in the

country. Office rents are already rising and strong demand and limited new supply will

support further gains in the years ahead

“

Results from the survey were also used to compile the Property Industry Confidence Index. (Note: Property Industry Confidence Index can be found overleaf.) “Western Australia recorded an index reading of 122.3 in the September quarter, which is some 18 percentage points above the national average of 104.1,” said Mr Lenzo. According to ANZ’s Chief Economist Warren Hogan, WA’s nation-leading confidence reflected expecta-tions of continued economic expansion on the back of ongoing investments in the resources industry and infrastructure.“Despite significant house price declines in the past year, survey respondents in Western Australia were, on balance, very positive about property markets,” said Mr Hogan. “This reflects the rapid expansion of the Western Australian economy that is now underway. The resource and infrastructure boom will under-pin rapid growth in Western Australian economic activity for several years, with the boom in investment not expected to peak until at least 2014.

“

“This is already being reflected in rapid growth in office market absorption which has reduced vacancies to the tightest in the coun-try. Office rents are already rising and strong demand and limited new supply will support further gains in the years ahead.” The Prop-erty Industry Confidence Survey was completed in the September quarter 2011 by investors and developers in all sectors of the property industry across Australia. The survey canvassed expectations for a range of business outcomes in the property industry, in-cluding staffing levels, investment yields, property values, construction activity, future work orders, and general economic conditions.

THE WRAP UP

“The survey also reveals that the two speed economy phenomenon is operating in the WA property in-dustry. Confidence is highest amongst property investors and developers that are directly exposed to the resources sector, like CBD commercial offices and investors in the state’s north-west,” said Mr Lenzo.“Outside of the resources sector, the other important driver in the property sector is grow-ing demand for retirement living properties. “However, property businesses that are primar-ily involved in residential development and the tourism sector are suffering from subdued demand.

“The Property Council-ANZ’s business confidence survey also canvassed opinions on current hot is-sues in the property industry. The most important issues expected in WA in the nest quarter are domes-tic and global economic conditions and the prevailing high level of interest rates. “Some 54% of prop-erty investors and developers were opposed to the introduction of a carbon tax, and the remainder of the survey respondents were mostly undecided. “The survey results show that the strong economic conditions in WA should not be taken for granted and careful government policy calibration is required to avoid the two speed economy phenomenon undermining the stronger sectors of the WA property industry”, said Mr Lenzo.

event wrap up

This year each of the leaders were from various sectors within the WA property industry. Troy Leber (Bankwest), Bill Hames (Hames Sharley), Chris Palandri (Brookfield Multiplex), Ian Armstrong (Perron Group), Lee Various (Norton Rose), Peter Agostino (CBRE), Brett Fullerton (KPMG) and Lee Pinkerton (Cape Bouvard) all graced the tables to provide guidance and insights into their successful careers.

Although most of the questions were career orientated audience members were able to freely ask questions on any topic and get to know the leaders, all within a 10min per table time limit. There was much rapture amongst one particular table as a leader explained their bed time reading habits – a different topic each night to expand their viewpoints – and admiration at another table as a leader explained (observed / noted / commented) that they started working in the property industry in Perth before anyone on the table was born! On a serious note the audience gained priceless career advice from each of the leaders, information that is unattainable for most of us as we go through our daily working lives. The encouraging words are evidence that there is a bright future in the WA property industry for years to come.

We would like to once again thank all the leaders who volunteered their time for the evening. Also, a special thanks to Alwin for seamlessly running the night and all the PCA staff and FD committee members who assisted to co-ordinate the event. We look forward to seeing you all again next year! -George Rolfe

meet the leaders5 July 2011

THE WRAP UP

event wrap up

The Brookfield Multiplex ‘BMX Bandits’ emerged victors in the inaugural Future Directions Property Industry Touch Rugby competition.

The Brookfield Multiplex ‘BMX Bandits’ took the inaugural prize in a tightly fought game with the LandCorp ‘Scorpions’.

With twenty-three teams the competition was a huge success.

$3,000 was donated to Youth Futures, a not-for-profit charity that assists young men and women who are homeless or at risk of becoming homeless by providing crisis accommodation.

Property Council Executive Director, Joe Lenzo, said that the event was a good example of the willingness of organisations in the industry to invest in building team skills and the health of young people in the property industry.

“This event demonstrates how highly valued good team players are in the property industry and shows a willingness by individual organisations to invest in the health and wellbeing of young staff ”.

property touch rugby30 September 2011

THE WRAP UP

event snaps

THE WRAP UP

event wrap up

On Friday 21st of October 2011, Downstairs at the Maj played host to a sell out crowd of young professionals who gathered to celebrate the 2011 winners of the Stan Perron Awards for Young Achievers in the Property Industry.

The Stan Perron Young Achiever Award is given to a property professional aged between 23 and 35 years old. The Lighthouse Award goes to a young professional under the age of 25. Both awards recognise individual excellence and the quality of involvement demonstrated in the various projects and developments they have been associated with.

The winner of this year’s Stan Perron Young Achiever Award was Matt Holmes of HFM Asset Management. Matt’s impressive CV included working on the NABERS compliance documentation for the prestige Enex 100, One40 William St and Alluvion developments. The Lighthouse award recipient, Timothy Clayton, is a junior lawyer at Jackson MacDonald and an equally deserving winner whose CV demonstrated an excellent range of experience. The judges noted that the quality of all applicants had been impressively high, and making the final decision had not been an easy task.

The crowd continued to mingle and take the opportunity to celebrate the achievements of the Award recipients with guests dressed to impress and cocktails and champagne flowing throughout the night.

young achiever awards21 October 2011

THE WRAP UP

event snaps

save the date

THE WRAP UP

thursday 1 december

future directions christmas party

the aviary

february 2012

property outlook

perth cbd venue

industry newsCAREER OPPORTUNITIESFOR PROPERTY PROFESSIONALS

hays.com.au

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Delivering a specialist service to the property industry, Hays Office Support is Australia’s leading provider of industry specific staffing solutions. As an active member and sponsor of the Property Council of Australia, our current clients extend across various markets and include diversified property groups. As we move into an increasingly candidate short market, clients are actively hiring new staff before the turn of the New Year. With several excellent opportunities and salary packages on offer, we are currently looking toward experienced candidates for the vacancies overleaf.

industry news

contact future directions POSTAL ADDRESS/

Property Council of Australia191 St. Georges TerracePerth, WA 6000Tel: 08 9426 1203Fax: 08 9226 2865www.propertyoz.com.au/wa

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