Sydney, 21 May 2014 – CBRE has appointed highly experienced property professional Daniel Dragicevich to the role as Director in charge of the firm’s strongly performing national pubs brokerage team.
Mr Dragicevich has been an integral member of the CBRE Hotels team for the past six years, specialising in the New South Wales pub market.
CBRE Hotels Regional Director, Ken Smith, said Mr Dragicevich had also had oversight of a range of significant national pub transactions involving the likes of corporate owners such as ALH, Redcape and Coles.
“The pub market is going from strength to strength across all sectors at present as a result of low interest rates, a relatively clear legislative landscape and an improving trading environment,” Mr Smith said.
“Whilst there are still various state and national challenges, a proliferation of new capital into the market is always a good lead indicator as to the confidence that exists within the pub sector.”
Mr Dragicevich said CBRE’s recent national sales campaign for Coles, which involved freehold pub assets across the country, was testament to the recent improvement in investor confidence. Each asset was sold at auction at prices above initial expectations.
“Our expectation is that transactional activity will continue to grow given the current improvement in market conditions across the pub sector nationally,” Mr Dragicevich said.
“We currently have five operatives working this market across four states, with plans to increase our coverage over the coming months.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.