Cushman beefs up valuations business

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CUSHMAN & Wakefield has confirmed the acquisition of Knight Frank’s New South Wales valuations business, instantly adding 24 valuers to its team.

Cushman & Wakefield Asia Pacific CEO Matthew Bouw said the team joins the company’s global valuations network that has executed valuations for assets in excess of US$3.7 trillion last year.

“I am delighted to welcome David Castles, Matthew Russell and the team to Cushman & Wakefield. Today’s announcement bolsters our position as a leading Valuations practice globally and highlights the power of our brand and culture to attract the best talent. With the combination of our 2,000+ global valuations professionals and this acquisition, Cushman & Wakefield is well placed to provide comprehensive solutions for clients in any market across the globe,” Bouw said.

Castles and Russell will lead Cushman & Wakefield’s national valuations practice across Australia, as joint heads.

Castles said, “We saw an opportunity to leverage Cushman & Wakefield’s global brand, alongside a truly national platform to create additional value for our clients and career opportunities for our people.”

This acquisition requires the approval of the Foreign Investment Review Board (FIRB).

Australia and New Zealand CEO James Patterson said the acquisition creates momentum for the agency in the valuations landscape nationally.

“It provides us with opportunities to accelerate the growth of the company’s broader commercial real estate business, which will in turn positively impact our clients and people. It also complements our occupier business, which is one of the strongest in the country.” Patterson said.

The institutional commercial team consists of national director David Castles; divisional directors Adam Elias, Tim Miles, and Lachlan Graham; associate director Matt Lucas; and valuers Daniel Hiscox and Tony Seo.

The institutional retail team consists of national director Matthew Russell; associate directors Phil Allenby and Thomas Andrews; and director David McLennan.

The institutional industrial team has only director Daniel McGrath.

The mortgage/finance team consists of divisional director James Burney; associate director Jack Moseley; directors Robert Timmermans and Mars Njoo; and assistant valuers Bill Bellew and Melvyn Romit.

The residential development team consists of divisional director Chris Sutton, associate director Andrew Berwick and assistant valuer Samanthan Hopkins.

The going concerns team consists of divisional directors Luke Doran, Alistair Bell and Monika Mattczak; and manager Simon Rees.

The government and legal team consists of divisional director Michael Dyson and associate director Nicholas Garnsey.

Australian Property Journal

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