Ex-Wallaby player Drew Mitchell has joined Savills Australia and New Zealand as a manager in the hotels team, helping Savills to expand its national representation across the pubs and hotels sector, with a focus on New South Wales.
Throughout his sporting career, Mitchell played for the Wallabies, Western Force, the New South Wales Waratahs, and RC Toulon. He is known as the highest try scorer in World Cup history. The connections that Mitchell has built throughout his career will be an advantage to the entire team, according to Leon Alaban, head of hotels at Savills ANZ.
“We are delighted to welcome Drew, with his profile and deep strength of relationships, to the team.
“For several years now, the Sydney and greater NSW pub brokerage landscape has largely been dominated by just a few agents. Drew’s appointment offers vendors and buyers another option, and an approachable and trusted operative to help meet the needs of our clients,” he said.
Nick Lower, national director, hotels, at Savills further elaborated on the operating environment for NSW hotels.
“Pubs in NSW have witnessed a recent increase in activity for both sale process and transactions during the first quarter of the year and this is anticipated to continue to increase as the year unfolds.
“Interest rates appear to have stabilised, no doubt providing some comfort to vendors, along with economist predictions that any next interest rate move will likely be downward. If correct, this should respawn investment optimism and therefore allow the capital stacks keenly positioned on the sidelines to deploy funds once again into the sector,” he said.