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News release

The Trifecta - Number 1 Retail sales agency and Number 1 Hotels sales agency in Australia for third year running

Jones Lang LaSalle recognised in annual RICS Awards for largest volume of retail transactions and hotel sales in 2011


SYDNEY, 20 APRIL 2012 – For the third year in a row, Jones Lang LaSalle and Jones Lang LaSalle Hotels have taken out 2 of the 4 RICS awards for commercial property – being rated as the Number 1 Retail Sales Agency in Australia and Number 1 Hotels Sales Agency in Australia for 2011.
 
The annual awards of the Royal Institution of Chartered Surveyors (RICS) recognise commercial agencies which have transacted the greatest volume of sales over $5m in Australia and New Zealand through 2011.
 
Australian Head of Retail Investments, Simon Rooney said, “We are pleased to be awarded the Number One Retail Agency award for the third year running and acknowledge the commitment of RICS to our industry by supporting these awards to showcase the commercial property industry.”
 
Jones Lang LaSalle’s Retail Investments sold more than $1.66 billion of retail property in 2011.
 
Some of the major transactions of 2011 included:
  • The $455 million sale of a 50% interest in Northland Shopping Centre, Melbourne to the Canada Pension Plan Investment Board (CPPIB).
  • The $261 million sale of the Westfield Group’s 50% stake in Cairns Central to Australian Prime Property Fund Retail (APPFR).
  • The $206 million sale of the Novotel & Australia on Collins to LaSalle Investment Management (LIM).

Mr Rooney said, “Although the retail environment was challenging throughout 201, investment volumes remained solid with 119 major retail investment sales recorded across the industry nationally in 2011 totalling $3.248 billion. 

“Investment demand for prime stock is likely to remain strong and we have already seen large shopping centres transact this year, including the sale by Jones Lang LaSalle of a 50% stake in Myer Centre Brisbane for $366 million – the biggest agency negotiated real estate transaction in Australia so far in 2012.”
 
Craig Collins, Chief Executive Officer – Australasia - Jones Lang LaSalle Hotels, said, “We are delighted to receive this prestigious award for the third consecutive year. During 2011, we successfully transacted over $1 billion worth of accommodation hotels and pubs. We are grateful to our clients for their continued loyalty and could not have achieved these results without their valued support.” 
 
Major settled transactions included:
  • The $300 million sale of Australia’s largest accommodation asset, Ayers Rock Resort on behalf of GPT.
  • The $141 million sale of the 380 room Novotel on Collins, Melbourne to LaSalle Investment Management on behalf of Thakral Holdings.
  • The sale of Compass Hotel Group comprising 12 pubs in Perth and the surrounding suburbs that sold to ALH for approximately $86 million.