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MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property management sector with more than 700 residential units in Brisbane.
The company has announced its newly secured management rights to six apartment blocks on Duncan Street near the Brisbane River in the inner-city suburb of West End.
Drift and Reach; Rise and View; and Parc and Arbor twin towers belong to three developments in one of Brisbane's emerging high-density property landscapes.
One-bedroom apartments in Rise are listed online from around $410 per week and two-bedrooms from around $520, while Drift and Reach riverside apartments are listed at up to $750 per week for two-bedrooms.
Some of the JLL listings advertised two weeks' free rent.
JLL now manages 1700 Queensland residential apartments, CEO Stephen Conry says.
"This latest addition to our portfolio adds to the existing Urban Edge in Kelvin Grove, Regatta Apartments in Toowong and the Newstead Series Development," says Conry.
"JLL enjoys a leadership position in this sector in the UK, North America and Hong Kong, and while the industry works under different structures across the world, and indeed across
Australia, it represents a major engine room for growth for the JLL business."
JLL's Queensland Head of Property Management Brett Stack says Australian commercialisation of property management is still "in its infancy" but presents increasing investment opportunities.
"With residential requirements skyrocketing, long-term rent contracts becoming the norm, tenant expectations constantly evolving and of course multi-tower developments now part and parcel of the landscape, the leaders in the sector must have sophisticated systems and solutions to realise results for buyers, owners, investors and tenants," he says.
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