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News release


JLL’s Canberra team expands with two new hires

JLL appoints Michael Heather as Head of Sales and Investments – ACT and Aaron Green as Sales and Leasing Executive – ACT, both joining from Colliers International

​CANBERRA, 22 JANUARY 2015 – JLL’s Canberra team has expanded with two new hires, highlighting anticipated strengthening sales activity for commercial property in the area with capital overflowing from the tightly-held Sydney and Melbourne markets. 

Michael Heather has been appointed as JLL’s Head of Sales and Investments for ACT, joining the team from his previous role as Director of Capital Markets for ACT at Colliers International. Aaron Green has been appointed as JLL’s Sales and Leasing Executive for ACT and also joins from Colliers International, having gained over six years’ experience in Canberra’s sales and leasing market.

Mr Heather has been involved in major deals in Canberra, including most recently the sale of major asset the New Acton building at 23 Marcus Clarke Street during late 2014 for $45.1 million to Melbourne property syndicator Placer Property.

According to JLL’s ACT Managing Director Andrew Balzanelli, JLL’s Canberra team is undergoing a period of growth and the new hires are part of their expansion strategy moving forward.

“Our Canberra office has been strengthened by these two new hires. Both Michael Heather and Aaron Green are well-respected agents within the Canberra market and will contribute years of valuable experience to our growing team here at JLL.”

According to Mr Heather, the investment market in Canberra remains strong and he expects transaction volumes to increase in 2015. 

“On the back of a solid 2014 in investment sales I anticipate an increase in transaction volumes in Canberra this year, driven by the weight of foreign capital in the market and the falling Australian dollar. In the last 12-24 months we have seen institutional buyers return to Canberra seeking assets with diversified cash flow and attractive yields, while private investors and syndicators continue to be on the hunt for yield.

“The Canberra yield cycle typically lags the Sydney and Melbourne cycles, so given the compression we’ve seen in those markets, we expect yields to tighten in Canberra over the next 12months,” concluded Mr Heather.