Melbourne-based commercial real estate firm, Allard Shelton, has appointed James Gregson and Michael Ryan as executive directors.

The two have 13 and 15 years’ experience in commercial property respectively, and join Allard Shelton from Fitzroys.

Allard Shelton director, Joseph Walton, who is also the president of the Real Estate Institute of Victoria, said the appointments are part of the firms efforts to attract and retain younger employees and management to drive growth. Both men are joining the firm as equity partners.

“James and Michael are both young guns in the industry," said Walton, explaining they are also "highly respected within commercial real estate."

“Allard Shelton has a mature pedigree in the Victorian market, but we recognise the need to change and bring in a new generation to drive future commercial success," he said. 

Gregson and Ryan will help build the businesses sales capabilities of the company, and will continue growing investment and development sales in inner Melbourne.

Upon the announcement, Gregson said, “I’m privileged to join a business which has been around for more than 130 years and has great respect within the industry. With a proven success over a long time, it provides a fantastic platform for us to build and expand on the sales side of the business.”

“Allard Shelton is an institution in the Melbourne real estate sector and has stood the test of time," said Ryan. 

"It’s an exciting time to be part of the Melbourne property market. The industry has experienced strong growth over the last few years due to historic low interest rates, strong offshore investment, the uncertainty perceived by many investors in the equities market, and the increase of funds allocated to superannuation."

Ryan said he believes there are still plenty of opportunities for growth in real estate.

"We expect to see continued movement of funds into real estate and we believe the prospects in the short to medium term to remain strong and present great opportunities for us at Allard Shelton.”

Walton said technological changes to the industry, as well as competition from global brands, means Allard Shelton must distinguish itself by providing a more sophisticated model.

“Allard Shelton is focusing on growing by expanding specialised business services, and diversification by attracting specialists to drive new opportunities. We want to lead the industry with our specialised offerings to provide clients with top-of-the-line service.”

See also:

REIV backs changes to Victoria's zoning rules

Melbourne market continues to deliver solid price growth

Joseph Walton elected REIV President