Commercial brokerage expands to WA

With offices in Sydney, Melbourne, Brisbane, and Adelaide, the new Perth offering is being spearheaded by executive director Andrew Dilorito, who brings two decades of banking and broking experience to the table.

With Western Australia becoming a hotspot for investment over the last few years, the new office will help service commercial investors across the state.

“Our Perth office is a vote of confidence in WA’s robust commercial property market, which has proven to be resilient. It will allow us to better service our Perth clients as we strengthen our national footprint,” said Stamford Capital managing director Peter O’Connor.

“We have been active in the WA market since 2020, and we see the Perth market as presenting unique opportunities that are often contrary to what is happening on our East Coast.”

Recent data from Money.com.au revealed a massive surge in investment across Western Australia. Over the last 12 months, there has been a 37 per cent increase in investor loans across the state.

According to Stamford Capital, Western Australia is poised for growth in the commercial space. Office vacancies across the state fell from 12.7 per cent to 11.5 per cent across the first quarter of 2024. Further, retail vacancies are at their lowest compared to the rest of the country at 6.5 per cent.

With this dip, Stamford Capital believes the market is “bracing for rental growth, with demand expected to outstrip supply over the next three to five years.”

Dilorito said: “The WA economy was barely impacted by the pandemic due to its relative isolation from the Eastern Seaboard. We are now witnessing a wave of large-scale construction activity with major infrastructure projects including Perth’s Metronet and Port Hedland set to spur further development and fuel greater economic growth.

“Stamford Capital will deliver a level of expertise not seen in the Perth market until now. I am excited to leverage my experience, now backed by a strong national team, market-wide lender partnerships, and access to a balance sheet through Stamford Capital Investment Management.”

The new location can be found at 401 Oxford Street in Mount Hawthorn. Joining the team will be associate director Mark Mackenzie, who holds over 14 years of finance and banking experience, including senior roles within institutions such as Westpac and PwC. He was most recently relationship executive at Bankwest and CBA.

[Related: Client circumstances drive brokers to non-banks at record levels: Broker Pulse]

Jack Campbell is the editor of Broker Daily. After graduating from the University of Wollongong in 2022, Jack began his journalistic career working on Broker Daily’s sister brand, HR Leader. In August 2023 he was made the news editor and worked alongside some talented journalists writing articles and recording podcasts.

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