Young broker joining high-flying city team
Ross Hinshelwood has joined the Colliers investment sales team in Auckland as a broker with a focus on the CBD and city fringe.
At only 24, he has begun to carve a path of success in the property sector following roles at other firms in consultancy and brokerage, which included working in the sales and leasing space across the retail, industrial, and office markets.
Hinshelwood will partner with the highly experienced Tony Allsop, who first joined Colliers in 1996 and has worked in brokerage since 2004. Allsop has transacted more than $1.5 billion of commercial property during his career.
Hinshelwood, who has a Bachelor of Property from the University of Auckland, says he will be focusing largely on office and retail properties from the CBD up to Karangahape Rd.
“There are good buying conditions in central Auckland at the moment and there is solid demand for vacant property among prospective purchasers.
“Owner-occupiers continue to be a strong presence in the market and potential vendors are eager to know where they stand with regards to the value of their assets. Value-add properties are also proving attractive for buyers.”
David Burley, Auckland director of investment sales at Colliers, says they are pleased to have Hinshelwood join the team.
“Ross is an enthusiastic young broker with a valuable set of skills and a broad base of contacts across the commercial property sector,” Burley says. “It is exciting to bring someone into the team who has wanted to be a commercial broker since he was at high school and will be able to make the most of our strong position in the market to achieve his full potential.”
Speaking about the commercial property market in central Auckland and the CBD fringes, Burley says the past 12 months have seen the continuing alignment of vendors and purchasers with regards to price expectations.
“A stable OCR has created an environment where purchasers are able to assess the cost of capital and vendors have reset their expectations on values.”
During the past few weeks, the investment sales team at Colliers has transacted some notable properties, including 50 Cawley St in Ellerslie, a large-scale offering with a showroom, retail space and yard that is home to a major boating retailer.
The listing attracted eight offers, three of which were unconditional, and the final sales price reflected a yield of 4.8 per cent on the passing income.