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Leading commercial outfit joins Laing+Simmons

Michael Buium and his team are now part of the Laing+Simmons family, based in Randwick.

The Announcement:

Thirty-year Sydney commercial real estate veteran Michael Buium and his experienced Eastern Suburbs based team are now part of the Laing+Simmons family, with Laing+Simmons Commercial and Residential Coogee|Randwick officially opening its doors today.

Based in the heart of Randwick, the experienced outfit has rebranded under the boutique Laing+Simmons banner to embark on its next phase of growth, which includes the continue growth of its residential service offering to complement its established commercial real estate platform.

Laing+Simmons Commercial and Residential Coogee|Randwick Principal Michael Buium says the rebrand comes at an interesting juncture for the property market.

“Typically, in an environment of rising interest rates, we see a pick-up in commercial leasing as occupiers show an increased preference for tenancy options as opposed to purchasing their business premises.

Certainly we’re seeing this play out in the current market,” Mr Buium says.

“Our focus will be on working closely with our customers – buyers and sellers, tenants and landlords – to ensure their specific needs are met in the context of current and future commercial market dynamics.

“Joining the Laing+Simmons network supports this focus, as we’re able to leverage the industry-leading training and more attentive network support only accessible with a boutique, hands-on brand.

“It’s an interesting time in both the commercial and residential markets, as the impacts of the upcoming NSW election and the direction the Reserve Bank takes are both set to have a key influence,” he says.

Part of the team with Mr Buium is Asset Manager Ella Swain, whose extensive experience in managing larger format retail assets including shopping centres and homemaker centres means Laing+Simmons is able to provide clients with shopping centre or platform retail management services.

In addition to the team’s considerable commercial real estate experience, Laing+Simmons Commercial and Residential Coogee|Randwick is also focused on growing its residential suite of services.

For this, Mr Buium is looking for talented sales professionals with local runs on the board to join the team’s existing local residential expertise.

“Should the Reserve Bank take a moderate approach and refrain from unnecessarily increasing rates beyond many peoples’ means, we anticipate residential market conditions will stabilise over the course of the year,” Mr Buium says.

“Pending unforeseen circumstances, we believe the price easing trend to be at or near the bottom, with a return to growth on the cards perhaps from next year.

“Demand for Eastern Suburbs property is always robust and the challenges of the supply shortage are likely to remain, underpinning values.

“Our team is ready to work closely with our customers on the leasing or sale of their properties and we look forward to bringing the benefits of our new brand to our new and existing clients,” he says.

Laing+Simmons Head of Growth and Development Harriet Saunders describes the addition of Laing+Simmons Commercial and Residential Coogee|Randwick as a coup for the brand

“Michael and the team at Laing+Simmons Commercial and Residential Coogee|Randwick have a long standing proven track record and it’s a privilege to welcome them to the network,” Ms Saunders says.

“It’s a significant coup to attract an operator of this calibre and experience to our growing brand in a key strategic market for us.

“The next step is to get to work with Michael and the team in designing and implementing individually tailored training programs and support to facilitate the continued growth of the team in a personal and professional sense,” she says.

Laing+Simmons Commercial and Residential Coogee|Randwick is located at 46 St Pauls Street in Randwick.

Source: Laing+Simmons

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