Price is right for pubs role

​Brisbane, 2 July 2012 – CBRE has transferred highly regarded real estate professional Glenn Price to its Queensland Hotels team.

Mr Price was previously based in CBRE’s Sydney office, specialising in the pubs sector.

CBRE Hotels Senior Director Wayne Bunz said the appointment would add further strength to the Queensland team and also allow for cross-border insight on key portfolios.

 “The pubs sector is quite complex with gaps in pricing and yields and two distinct markets forming - large holding companies and small niche owner operators,” Mr Bunz said.

“Glenn’s knowledge and track record with both of these groups will be a great boost to our Queensland operations.”

Mr Price’s role will encompass general agency practice, advocacy and consultancy specialising in the hotel and leisure sector dealing with operators and investors across the entire Queensland market.

He will work alongside Mr Bunz and the national director of CBRE’s pub division Joel Fisher.

“Glenn has been an active broker in both the metropolitan and regional centres of NSW and has recently worked on transactions for ALH, NLG, PKF, Rodgers Reidy Chartered accountants, PPB and Taylor Woodings,” Mr Fisher said.

“We are seeing a developing trend of high net wealth individuals stepping into the hotel market seeking higher yields than what is available to them in the traditional commercial sector. Case in point was the recent sale of the ALH portfolio.”

Mr Fisher added; “Recently we have noticed a rise in confidence in the sector with traditional publicans returning to the sector as the corporate players continue to realign their portfolios.”

Mr Price will commence in CBRE’s Brisbane office on July 3.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue).  The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.