Two highly respected leaders in the NSW corporate agency world, Elijah Shakir and Andrew Sukkar, have launched a commercial agency, bringing their expertise and boutique brand to western Sydney’s thriving industrial and commercial sector.
Previous roles held by the pair include 20 years of corporate service for Shakir, (above, on right) which most recently included a 14-year tenure as western Sydney department head at CBRE and another five years at JLL spanning research, valuation and agency.
Shakir has been responsible for market-leading transactions in western Sydney totalling more than $1.25 billion in sales, including some recent notable transactions below:
- 91 Kurrajong Avenue, Mount Druitt—$50,000,000 sale to Gibb Group
- 490 Victoria Street, Wetherill Park and 11 Huntingwood Drive, Huntingwood—$75,000,000 sale to I&L
- 160 Newton Road and 8 Hexham Place, Wetherill Park—$44,000,000 sale to Centuria
According to Shakir the new agency seeks to service both high-net-worth privates and institutional clients through a boutique service. “ReVest Property Group has been established to provide a client-centric, independent service. We aim to give our existing client base a bespoke service wherever they need it. We have built a reputation through a strong track record, whilst always remaining focused on the outcome.
“Western Sydney industrial has boomed over the past 24 months, however we understand this has taken a long time to establish this level of growth. Key changes through both e-commerce and online retail have meant a market shift in spending and the way goods travel. Industrial rental growth has been linked to the boom in e-commerce however key drivers such as vacancy, land supply and development have also been associated with growth.”
Sukkar’s career spans close to 10 years through independent and corporate agency, having recently held the joint department head role in Metropolitan sales at CBRE western Sydney. During this time Sukkar has transacted some of the largest sales in the south-west of Sydney including:
- Wilton West Precinct—$88,750,000 amalgamated site sales to Barings
- 275-280 Eighth Avenue and 26-28 Kelly Street, Austral—$42,000,000 sale to Crownland
- 83 and 95 Tenth Avenue, Austral—$28,000,000 sale to Coles
Mr Sukkar said: “Western Sydney is a growing market, with the biggest state and federal government contribution in the country, including the Western Sydney International airport now 90 per cent complete, the Metro stations, M12 motorway and the recently announced $1-billion funding for the Fifteenth Avenue Smart Transit.
“Western Sydney is a core employment hub with a forecast of over 200,000 jobs in the long term and an increase in our gross regional product from $199 billion to $379 billion by 2036,” Sukkar (above, on left) said.
The launch of the new agency comes as the group has listed more than $100 million of industrial and metropolitan properties for sale and lease, including:
- 5-9 Lancaster Street, Ingleburn—A securely leased institutional grade industrial investment guiding $40,000,000
- 137-147 McCredie Road, Smithfield—A 10,692sq m industrial development under construction, which is available for lease
- 113 Heath Road Road, Leppington—A 2.22ha residential subdivision site guiding $10,000,000
- 2a Sloane Street, Goulburn—A newly complete industrial unit estate to be sold in one line with a guide of $20,000,000.
The pair said they were pleased to offer such a premium grade of properties to market and they firmly believed they would be well received due to the calibre of sites.
ReVest Property Group has officially opened its doors and set up headquarters at 111 Phillip Street, Parramatta.
“We are able to resonate with the market by not only plying our trade in western Sydney but also living and growing up in western Sydney. We understand the fabric of the market through both fundamentals and key drivers which shape it.” Shakir said.
