Stamford Capital has expanded into Western Australia
- Written by Business Daily Media
Leading commercial property finance brokerage Stamford Capital has expanded into Western Australia, opening a Perth office. It marks the fifth office for the brokerage powerhouse since its formation in 2010 and also the next step in its national network – joining offices in Sydney, Melbourne, Brisbane and Adelaide.
Located at 401 Oxford Street in Mount Hawthorn, Stamford Capital Perth is spearheaded by Executive Director Andrew Dilorito, a high-profile WA finance broker with some 20 years of banking and brokerage experience.
Stamford Capital Perth will cater to increasing demand for development and investment finance in WA. According to a recent NAB Commercial Property Survey, WA experienced the largest uptick in commercial property sentiment across Australia in Q1 2024, with NAB’s Commercial Property Index showing a 29-point rise.
“Our Perth office is a vote of confidence in WA’s robust commercial property market, which has proven to be resilient. It will allow us to better service our Perth clients as we strengthen our national footprint,” said Peter O’Connor, Managing Director of Stamford Capital.
“We have been active in the WA market since 2020, and we see the Perth market as presenting unique opportunities that are often contrary to what is happening on our East Coast.”
The outlook for WA remains buoyant across most sectors of the commercial property market. According to NAB’s Q1 Survey, WA office vacancies fell from 12.7% to 11.5% and retail vacancies are at their lowest compared to the rest of the country at 6.5%. It also revealed that WA’s industrial market is bracing for rental growth, with demand expected to outstrip supply over the next three to five years.
Supply of new residential development in WA also remains tight supported by strong buyer demand. The NAB data shows that Perth outperformed all other major capitals with a record 0.73% rise in residential prices in May 2024 and an increase of 20.58% over the past 12 months.
Stamford Capital Perth has ambitious plans for growth in WA. Mr Dilorito is joined by Mark Mackenzie, Associate Director who holds over 14 years’ finance and banking experience, including senior roles within major institutions such as Westpac and PwC. He was most recently Relationship Executive at Bankwest and CBA.
According to Mr Dilorito, there is strong appetite for the market leader in WA creating an ideal platform for local expansion.
“The WA economy was barely impacted by the pandemic due to its relative isolation from the Eastern Seaboard. We are now witnessing a wave of large-scale construction activity with major infrastructure projects including Perth’s Metronet and Port Hedland set to spur further development and fuel greater economic growth,” said Mr Dilorito.
“Stamford Capital will deliver a level of expertise not seen in the Perth market until now. I am excited to leverage my experience, now backed by a strong national team, market-wide lender partnerships, and access to a balance sheet through Stamford Capital Investment Management.”
With 20 years of experience in WA’s finance sector, Mr Dilorito has held various roles in banking and corporate institutional banking with ANZ. In 2018, he entered finance broking and founded Aperto Finance, a boutique debt advice and brokerage business. He quickly achieved Elite category status with LMG Group, Australia’s largest commercial aggregation group.
Founded in Sydney in 2010, Stamford Capital expanded into Brisbane in 2016, followed by Adelaide in 2018 and Melbourne in 2019. During this time, it has grown from a staff of two to a national team of 40, with a transactional volume of $12.7 billion. In FY24, Stamford Capital settled over $2.5 billion in loan volume and achieved a record pipeline of over $5 billion.
