In profile: Colliers International manager of office leasing, Melbourne, Adam Davy

Agent: Adam Davy

Position: Manager - office leasing

Company: Colliers International

Office location: Melbourne

How long have you been in the industry?  

Just over three years in commercial office leasing.

The Melbourne CBD office leasing market is currently experiencing some ongoing challenges due to limited tenant growth, however there are still multiple opportunities for leasing transactions. By providing my clients with accurate advice on market conditions and a leasing strategy tailored to their building I have been able to transact over 35 deals this year.

Tenants are remaining optimistic about their business performance over the next three to five years but are basing their decisions on only moderate growth. There is a trend for tenants to be taking advantage of the favourable market conditions and moving to higher quality buildings. For this reason buildings that have had good quality refurbishments are attracting the most deals as tenants want to see the space ready for their fitout and occupation.

There is also most tenant interest in spaces of 200-350 square metres which is allowing landlords that can subdivide floors to capture the greater demand. Additionally space that offers a good quality existing fitout is in demand as tenants look to minimise their upfront capital costs of relocating.

Describe the most interesting property you have leased?

Level 1 at 533 Little Lonsdale Street, Melbourne. The landlord (Vantage Property Investments) completed a quality internal refurbishment of the space which included installation of a new deck over the 132 square metres terrace on the floor complete with plants, BBQ, outdoor furniture and two putting greens. The terrace space now adds significant amenity for staff who will occupy the floor and also is an attractive outlook.

What are the ingredients to being successful in your job?

Confidence and enthusiasm. Real estate is very much about people and being a good communicator is vital to being successful.

What aspects of your role do you enjoy the most?

Doing deals, entertaining clients, pitching for new listings. Real estate is a very dynamic and social industry and it is great to be able to meet new people every day and share successes with colleagues and clients.

Where would invest a spare $750,000?

I would buy land in the inner eastern or western suburbs to develop for townhouses. I have been doing this for around four to five years as a personal interest and investment and believe I have a good knowledge to unlock value in these sorts of projects.

Which football team do you support? 

 AFL - Hawthorn

What’s your favourite app or techno gadget?

App – Pandora (online radio)

How do you use social media?

I am a frequent user of multiple social media platforms. For networking I think it is a revolutionary tool for how we communicate and do business. Social media is a great method for building my personal brand within the industry and also I find it useful to share market knowledge or articles of interest with my connections.