KNIGHT Frank has bolstered its South Australia industrial team with the appointment of David Ludlow to lead the division.
Ludlow brings 16 years’ experience in the industrial property sector, most recently as head of industrial with JLL. Prior to that, he was with CBRE and Colliers.
Knight Frank’s head of industrial logistics Darren Benson said the appointment comes as Adelaide’s industrial market had demonstrated resilience during 2020, despite the challenges of COVID-19, with strong buyer demand from both owner-occupiers and investors.
“We are very fortunate to have secured David as the head of our industrial logistics team in South Australia, as his vast experience and professionalism is a perfect fit as we ramp up our capability nationally,” he said. “We have every confidence he will lead our team to success, and provide unparalleled service for our valued clients.”
“We are seeing enquiry and activity in the leasing market, however, but predominantly for smaller industrial space, in the sub 1000 sqm market.
“We anticipate activity in Adelaide’s industrial market will only strengthen moving forward, both in sales and leasing,” Benson said. “The opportunities in the Adelaide market are substantial with the growth in e-commerce, defence sector and given the city is a strategic hub between Australia’s east and west coasts.”
Ludlow said he was looking forward to heading up the division.
“Industrial as a sector has seen some exciting growth over the last year,” he said. “Its performance as an asset class during COVID has also proved resilient when compared to other sectors. Industrial is considered a defensive asset class and in this sector particularly South Australia as a state is proving to be a destination for business.
“Recent increased land sales activity and sale and leaseback transactions means we will see some rental growth and possible yield compression in Adelaide’s industrial market moving forward.” Ludlow concluded.