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Plenty of commercial opportunities in northern Melbourne presents an opportunity for an agency to harness that development.
Ray White Glenroy has recruited two new commercial directors to embrace the geographical opportunity in the north-west corridor. The area did not have a local agency offering commercial property services.
“We saw a gap in the market, and it was a big opportunity for us to tap into the northern corridor,” Ray White Glenroy principal Ziya Koksal said.
One of the new directors is Dee Nguyen, and throughout his real estate career, he has held an interest in commercial real estate.
“It’s a time in my life where I want to step it up a level and diversity into another part of real estate,” Mr Nguyen said.
The north-west of Melbourne has a lot to offer with a mixture of retail, industry, offices, land and development sites in the area, he said.
“In each sector, there’s an enormous opportunity in sales and leasing. There’s strong demand for smaller warehouses in industrial parks at the moment.
“There is also strong demand for apartment developments across north-west Melbourne and strong demand in mum and dad investors using their super to invest in commercial property.”
Although there is strength in many parts of the industry, Mr Nguyen has noticed that retail operators are doing it tough.
“People don't have a lot of disposable income,” he said.
Additionally, Domenic Sgambellone has joined the agency. He returns to real estate from media where he worked for The Age, Leader News and Domain.com.au.
“We have a diverse group; we’re going to do it differently, we aren’t going to be your traditional commercial agents,” Mr Koksal said.
“For us, some of our residential landlords own commercial property as well, this way we can provide a complete real estate solution for our customers, past vendors and purchasers.”
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