Knight Frank Appointment to Grow Asset Management Portfolio
Posted by Fleur Revell
Knight Frank appoints new National Director of Asset Management to help manage business growth and interest in NZ commercial property by Australian investors.
Commercial real estate agency Knight Frank has appointed a new National Director of Asset Management to build on its existing portfolio and to help manage growing Australian interest in New Zealand commercial property.
Aucklander Stuart Bagley is an expert in international asset and property management and in his new role will be a key touch point for both corporate and private investors. Bagley says he will be responsible for maximising the performance and value of the company’s portfolio of real estate assets that are owned or managed through acquisitions, dispositions or operations.
He says there is increasing interest in commercial and industrial properties from both corporate and private Australian investors who are looking at New Zealand opportunities. “New Zealand has a broad range of property investment opportunities to suit all investor risk profiles and the returns in New Zealand are very attractive relative to what can be achieved in Australia in some cases,” he says.
Knight Frank Managing Director, Layne Harwood says the addition of Bagley to the Knight Frank team will help spearhead the company’s advance into the asset management services market in Auckland and leverage Knight Frank’s experience in Australia and Christchurch.
Knight Frank is the second largest asset manager in Australia, managing 2,794 properties which are occupied by 10,556 tenants. The portfolio has a total net lettable area of 9,168,272 m2 and produces an annual rent roll of $2.8 billion.
“We are entering a period of expansion and Stuart’s international and domestic experience will help him assist our growing Australian client base as well as New Zealand based investors,” says Harwood.
Bagley joins Knight Frank from Darrochs where he was the Director of Property Services. Bagley is a member of the Property Institute of New Zealand, a Fellow of the Royal Institution of Chartered Surveyors and a qualified salesperson under the Real Estate Agents Act.