1958 to 2018 – JLL celebrates 60 years in Australia
When JLL set up an Australian office from its UK Headquarters, television was only in its infancy in Australia, the Sydney Opera House had only just started construction and trams were still travelling down Sydney’s Elizabeth Street.
Two years after television began in Australia in 1956, JLL opened its first office in Sydney.
JLL is celebrating a 60-year Anniversary, as the first global commercial property firm to establish an Australian presence in 1958.
When JLL established its Australian operations 60 years ago from London, it was only the second office for the firm globally and started JLL’s path of becoming a global business and Australia’s largest commercial property services firm.
JLL’s Australian Directors expanded into Asia Pacific from the Australian base and the regional business now operates in 16 countries, out of nearly 100 office locations with 37,000 employees - 3000 in Australia. Globally, JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500.
CEO of JLL Australia, Stephen Conry said, “JLL’s growth story is phenomenal. We can credit a great many people for the success of our firm in Australia and its impressive growth. Starting with the London partners who voted that an Australian business be established 60 years ago, to the pioneers who forged the way, to the leaders of the business over the years, to our valued clients who have supported us, to all our employees past and present. I thank everyone for contributing to making JLL into the strong dynamic firm it is today.
“Together we have achieved so much. And even with 60 years of history under our belt, we are only just getting started. Our next step in the journey is to keep growing and diversifying our Australian business, but also to continue to lead in property technology along the way.
“The growth of our firm in Australia just over the past 10 years alone has been enormous, thanks to diversifying our business with a number of mergers & acquisitions and expansion into new sectors, but continuing to keep a strong focus on our core business. All this has led to 8 consecutive years of record revenue and profit performance for the Australian business.
“Our growth strategy is producing strong financial results and market share, through the diversity of our business – from Facilities and Property Management to agency transactional deals to Strategic Consulting,” said Mr Conry.
60 years of contributing to the infrastructure of Australia’s cities
In the 60 years since JLL was established in Australia (as Jones Lang Wootton, then Jones Lang LaSalle and now JLL), Australia’s population has increased from around 9.8 million to 24.9 million. This has placed a constant pressure on the provision of infrastructure, particularly in Australia’s cities, to cater for the nation’s growth.
Over JLL’s 60 years in Australia, we have helped create assets across all sectors of commercial property – office towers, shopping centres and industrial facilities. We helped deliver some major urban projects including Melbourne’s Docklands, Brisbane’s Expo 88 and more recently the Gold Coast Commonwealth Games Villages.
Everywhere you look, we see infrastructure that JLL has touched over 60 years.
Going right back to the early days of JLL in Australia, we were involved in the creation of the Warringah Mall Shopping Centre on Sydney’s Northern Beaches in 1961. Now, we are Australia’s largest property manager, including more than 350 shopping centres under JLL-management. We are also the leader in shopping centre sales, transacting the biggest and largest volume of assets across Australia.
And it is not just Sydney where we have made our mark on large infrastructure projects like the most recent 22-hectare Barangaroo precinct, JLL was involved in the site amalgamation of some 77 leases with Lendlease to create Brisbane’s iconic Riverside precinct.
60 years of involvement in Australia’s property industry
JLL is also the undisputed leader in Commercial Property Research in Australia and was the first to introduce a real estate subscription service to the industry in 1988. We provide our analysis and research to clients, because quality advice helps our clients make quality decisions.
In 1999, in the largest international real estate industry merger to date, JLW and LaSalle Partners joined forces and formed Jones Lang LaSalle. The resulting company was - and still is - the leading global commercial real estate services and investment management firm.
In 2014, we shortened our name to JLL and unveiled a new logo.
What next? JLL’s launch of a global business - JLL Spark - with Silicon Valley veterans signals an exciting time ahead for growth of our technology platforms and will deliver new technology-driven real estate offerings for our clients.
Mr Conry concluded, “Our business in Australia continues to change and evolve, necessarily so for a dynamic firm in a fast paced world. We will continue to reach for opportunities for our clients and our colleagues – with a commitment to teamwork, working hard, being proud of our distinguished history, but with an eye firmly on the future. Our clients and our colleagues have chosen JLL for over 60 years, and I thank them sincerely for it.”
JLL notable business highlights in 2017:
- JLL was involved in some of the biggest deals in the market in 2017, including the single biggest office deal in Australia – for a 49.9% interest in Brookfield’s $1.9 billion Wynyard Place development in Sydney. Other notable deals included the Sydney MLC Centre 50% sale for $722.5 million, the portfolio sale of assets on behalf of TCA for over $727 million and a 50% stake in Indooroopilly Shopping Centre for over $800 million. JLL jointly sold a 50% investment interest in two new, world-class Melbourne CBD office assets – Olderfleet at 477 Collins Street for $414 million; and an A-Grade office building at 664 Collins Street for $138 million.
- JLL was appointed as a Property Service Provider under the Whole of Australian Government (WoAG) property procurement tender, providing integrated facilities management services to 34 government entities. JLL was awarded another government contract covering 276 properties in the Victorian Department of Treasury and Finance shared services portfolio. JLL now manages 6.5 million square metres of property portfolios on behalf of the Commonwealth and State Governments.
- JLL was appointed by Gold Coast 2018 Commonwealth Games Corporation (GOLDOC), Grocon and UBS to provide Facility Management of the Commonwealth Games Village pre, during and post the 2018 Commonwealth Games.