Knight Frank has bolstered its agency team in Adelaide with the appointment of David Ludlow as new Head of Industrial for South Australia. The appointment comes as South Australia’s industrial market shows resilience in the face of COVID-19, in particular with strong sales volumes Adelaide, Australia.

David Ludlow has 16 years’ experience in the industrial and logistics property market in South Australia, specialising in vacant possession sales, sale and leaseback transactions, tenant representation, leasing, subdivision and investments, and acting on behalf of institutional and private clients.

Knight Frank’s Head of Industrial Logistics Darren Benson said the appointment was a strategic hire for Knight Frank.

“We are very fortunate to have secured David as the head of our industrial logistics team in South Australia, as his vast experience and professionalism is a perfect fit as we ramp up our capability nationally,” he said.

“David’s lengthy experience has equipped him with a comprehensive working knowledge of the industrial market, ranging from small leases to multi-million dollar investments, as well as a reputation with clients for delivering results.

“We have every confidence he will lead our team to success, and provide unparalleled service for our valued clients.”

Mr Benson said Adelaide’s industrial market had demonstrated resilience during 2020, despite the challenges of COVID-19, with strong buyer demand from both owner-occupiers and investors.

“Prime assets with strong lease covenants have been sought after by active investors, but we are also increasingly seeing owner-occupiers buying land particularly in the northern precinct, opting to buy rather than lease.

“We are seeing enquiry and activity in the leasing market, however, but predominantly for smaller industrial space, in the sub 1000 square metre market.

“We anticipate activity in Adelaide’s industrial market will only strengthen moving forward, both in sales and leasing.

“The opportunities in the Adelaide market are substantial with the growth in e-commerce, defence sector and given the city is a strategic hub between Australia’s east and west coasts.”

Mr Ludlow said he was looking forward to heading up Knight Frank’s Industrial division in South Australia, with the market well poised for growth.

“Industrial as a sector has seen some exciting growth over the last year,” he said.

“Its performance as an asset class during COVID has also proved resilient when compared to other sectors. Industrial is considered a defensive asset class and in this sector particularly South Australia as a state is proving to be a destination for business.

“Recent increased land sales activity and sale and leaseback transactions means we will see some rental growth and possible yield compression in Adelaide’s industrial market moving forward.

“Knight Frank has long been a successful property company with a proud and long history, and industrial within this business is at the start of a very exciting growth phase, something I am looking forward to contributing to.

“Knight Frank has always attracted strong talent and over my 16 year journey in the industrial sector I have crossed paths with many of those team members, and am excited to work with them again.”