Melbourne leasing team winning big
EDITORIAL | Victoria
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Knight Frank’s 14-strong executive leasing team in Melbourne are winning big, scoring goals in the sporting
capital of the world.
Senior Director and Head of Office Leasing, Vic, Hamish Sutherland, who has led the Melbourne leasing team
for more than five years, says the secret to their success is simple – team work.
“They’re a great team, we’ve been very fortunate getting good people.
“They’re good at their job and also very honest, hardworking with integrity,” said Mr Sutherland.
We have teams that work in specialist geographical markets, we’ve got Melbourne covered from the CBD, City
Fringe and metro out to Glen Waverley to the south-east.
“It’s a very flat structure, it’s not hierarchical at all.
“We’re very open and collaborative,” he said.
The team’s extensive and varied background, from a lawyer to personal trainer, also gives them a competitive
edge over the competition, said Mr Sutherland, who has more than 22 years’ experience in commercial
leasing.
Knight Frank’s Melbourne leasing team – the company’s biggest in Australia – meets every Tuesday morning
to discuss their clients’ needs and projects.
“When everyone turns up, we struggle to get a room big enough, there’s so many of us.
“There’s no sort of typical day, there’s no typical week. There are many meetings over the course of any week
covering a wide range of scenarios and agendas,” Mr Sutherland said.
Melbourne’s commercial property market – the nation’s second biggest after Sydney – has been increasing in
popularity in recent years, putting pressure on supply and boosting rents, he said.
“Rentals are rising, companies are prepared to pay, however they’re expecting a certain level of amenity
within a building.”
The group’s Melbourne leasing team has more than doubled revenue over the past five years, securing
instructions with some of the largest institutional and private landlords in Australia.
Premium projects include: 120 Collins Street, 333 Collins Street, 530 Collins Street, Melbourne Central Tower
and 140 William Street.
Companies are getting more value for money in Melbourne compared to Sydney, Mr Sutherland said.
Two of Australia’s big four banks, ANZ and National Australia Bank, are based in Melbourne, plus mining giant,
BHP Billiton and telecom group, Telstra.
Melbourne is also rising in popularity with a broad range of firms, including IT start-ups as well as firms from
interstate and metro areas, Mr Sutherland said.
Whilst rentals are climbing, we expect they will get stronger over the next couple of years,” Mr Sutherland
said.
Dwindling supply and strong demand is forecast to drive Melbourne’s CBD property market growth over the
next two to three years.
As rentals are expected to rise, this will unlock the viability of development opportunities that were previously
considered for residential and other uses, Mr Sutherland said.
“Supply will occur at a higher level of rent.”
New development is scheduled to come onto the market in central Melbourne in 2020, which will “temper the
market a bit”, he said.
“The length of the term affects the incentive amount, so tenants are taking longer leases with the aim to cover
a substantial portion of their fitout costs,” Mr Sutherland said.
The Melbourne leasing team is constantly providing advice to building owners about initiatives to improve
their portfolio offering, including the provision of third spaces and health and well-being elements to attract
new tenants whilst keeping existing ones happy, he said.
The two busiest periods for the Melbourne leasing team is the end of the financial and calendar year, Mr
Sutherland said.
Away from work, the team has been busy with weddings and the arrival of several babies.
“We work in twos and threes to provide the best in class service to our clients leveraging off strong
collaboration and great team work,” Mr Sutherland said.
* Content updated on 23/05/2017
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