In profile: Colliers International's director, industrial, Philip Stephens
NAME: Philip Stephens
POSITION: Director, industrial
COMPANY: Colliers International
OFFICE LOCATION: Level 20, Central Plaza One, 345 Queen Street, Brisbane.
How long have you been in the industry?
10 years
What's happening in the area you specialise in?
I specialise in Brisbane's industrial market. There has been a number of large logistics users take advantage of sharp rental deals. With these users vacating it has resulted in a large supply of older style buildings, many of which are in the process of being refurbished for their next lifespan.
Activity from both small investors and large REITs has been strong, with some investors buying older assets with leasing risk and benefiting from the rental uplift.
Describe the most interesting commercial property you have worked on?
A World War Two Igloo which I sold for Thiess Mining for $6,200,000. It was a complicated lease back situation with the building being heritage listed.
What are the ingredients to being successful in your job?
Hard work, persistence and first class market knowledge.
What aspects of your role do you enjoy the most?
Meeting a variety of business people and understanding how they grew their business.
Where would you invest a spare $750,000?
Either an industrial building with some leasing risk or the share market.
Which football team do you support?
Quennsland Reds.
What's your favourite app or techno gadget?
How do you use social media?
I primarily use LinkedIn and Instagram. LinkedIn is a very useful tool I use regularly as it assists me in communicating with a range of different clients and allows me to promote other industry groups I am a part of.
