The commercial property market in WA's South-West has gained significant momentum over the past 24 months, driven by regional economic factors and increasing investor interest. Amid this growth, the partnership between two of WA's prominent real estate players — MLV Real Estate Perth and Commercial Realty Bunbury — has made a notable impact as they celebrate one year of collaboration.
Reflecting on the partnership’s first anniversary, David Lamb, Managing Director and Licensee of MLV Real Estate and Commercial Realty Bunbury, attributes the success to a combination of enhanced service offering, extended geographical reach and strong market positioning. "One of the main drivers has been the ability to market to two different databases, expanding our client reach and expertise in ways neither company could achieve individually," Mr Lamb notes.
Expanding Geographical Reach
MLV’s integration with Commercial Realty has enhanced its ability to service clients not only in Perth but also across the wider South-West, including key commercial hubs like Bunbury, Busselton and Margaret River. This dual presence has strengthened both firms’ ability to meet the growing demand for commercial property in these areas, driven by booming industries such as mining, agriculture, manufacturing and tourism.
“The South-West has experienced strong growth across all commercial asset classes,” Mr Lamb observes. "From retail spaces to industrial sites, we’ve seen increasing interest, particularly as more businesses view the region as a viable alternative to Perth for both commercial and lifestyle reasons."
The partnership has allowed MLV and Commercial Realty to offer more tailored, locally informed services in both Perth and Bunbury. For example, Commercial Realty's deep-rooted connections in the South-West are complemented by MLV’s broader corporate expertise. Together, the companies have been able to execute complex property transactions with ease, such as leasing spaces for multinational tenants.
Celebrating Success
Several recent deals exemplify the synergy between MLV and Commercial Realty, showcasing how the partnership is benefiting clients.
One standout transaction involved a 2.31-hectare light industrial site at Clifford Street, Davenport in Bunbury. Originally listed by Commercial Realty, the property was marketed to both companies’ extensive databases. The eventual buyer was an existing client of MLV Real Estate.
Another notable project, an upcoming café/restaurant for lease on Quinninup Road in Wilyabrup near Margaret River, illustrates how clients in the South-West are benefiting from joint marketing efforts across both regions. "Whether it’s a local business or a national brand, we’re able to provide the reach and resources to connect them with the right opportunities," Mr Lamb adds.
Streamlined Services and Enhanced Expertise
One of the partnership's key advantages is its ability to offer more comprehensive services under one roof. "Since the collaboration, we’ve been able to manage everything in-house, from valuations and market rent reviews to facility management," Mr Lamb explains. "Clients in both Perth and the South-West now benefit from local assistance and expertise wherever their properties are located."
This expanded offering includes services that were previously outsourced, such as superannuation letters and appraisals. Commercial Realty now can manage these tasks internally, thanks to the depth of resources MLV Real Estate brings to the table. This streamlined approach has been particularly valuable for large-scale, complex transactions, where the combined expertise of both teams ensures a more seamless, corporate response.
Building a Strong Corporate Identity
Looking ahead, Mr Lamb is optimistic about the future of the partnership, emphasising the importance of creating a polished, corporate identity for the combined business. “We’ve focused heavily on building a strong presence, both through social media and more traditional marketing channels,” he says. "As we continue to refine our approach, our goal is to further solidify our reputation as the go-to commercial property experts in both Perth and the South-West."
The partnership has also had a positive impact on company culture, fostering mutual respect and collaboration between the two teams. "We’ve doubled the depth of knowledge available to our clients, and that’s been a huge asset," Mr Lamb reflects. "Everyone gets along well, and there’s a real sense of ‘team’ that’s developed over the past year."
The South-West Market Outlook
As for the future of the South-West commercial property market, Mr Lamb is optimistic. "I anticipate continued growth over the next 12 to 24 months," he predicts. "Perth remains a strong market, but Bunbury is catching up, and we’re seeing increasing interest from tenants and investors alike."
Key drivers of this growth include large public infrastructure projects and a shift towards renewable energy in the region, both of which are expected to bolster demand for commercial property. Additionally, the region’s growing residential population — drawn by the South-West’s lifestyle appeal — is further fuelling demand.
"With more businesses and individuals choosing to relocate to the South-West, the region is well-positioned for sustained growth," Mr Lamb concludes. "And with our combined expertise and geographical reach, MLV and Commercial Realty are ready to meet the challenge."
