Opteon recently increased its depth of talent in the retail valuation space when Duane Gilliland and Stuart Miles joined the team.
Introducing Duane Gilliland, Senior Director, National Retail
Duane, who joined the Opteon team in March 2026, is an experienced valuer who provides advice and valuations for retail properties and mixed-use projects across southeast and greater Queensland. He also supports Opteon’s work on the valuation of larger retail properties across the country.
‘I grew up in the Hinterland and moved to the Sunshine Coast for school. One of my most memorable assignments was to value the sub-regional shopping centre on the Sunshine Coast that I’d always gone to as a kid,’ Duane recalled.
Duane’s experience spans valuing neighbourhood retail and $5+ million quick service retail assets through to large format retail, mixed use developments (up to $200 million) and sub-regional centres (up to $300m). Beyond providing robust valuations for lenders, owners and developers on existing and planned retail assets, he also works closely with clients to help identify any property weaknesses and ways to improve assets.
‘It’s been interesting watching the Queensland retail market evolve. Currently, market rents are increasing because of construction costs, which is having a positive flow on effect to values. Retail centres are also morphing into mixed use centres that feature attractions such as child care centres, gyms and leisure options, which are increasing dwell time in shopping centres,’ observed Duane.
While he hasn’t been at Opteon long, Duane is already enjoying using Opteon’s systems and the variety and flexibility of his work. In his spare time, you’ll often find him at the park with his young daughter or in the kitchen whipping up his ‘go-to’ dish of Northern Thai noodles or anything that honours his Italian upbringing.
Introducing Stuart Miles, Associate Director
After starting his career in real estate sales and property management, Stuart went back to university and earned a Graduate Diploma of Valuations. Since then, he has specialised in Melbourne’s retail sector and continues to enjoy valuing a wide variety of retail assets in the $5–20 million range, as well as the flexibility of his work.
Since Stuart joined the Opteon team in late 2025, he’s been providing valuations for lenders, owners and developers on strip shopping centres, quick service retail, large service retail, and high value specialist assets (such as restaurants and gyms). He regularly addresses issues including anchor risk, vacancy risk, leasing spreads, speciality MAT analysis, incentive normalisation, non-recoverable outgoings, and repositioning plays.
‘In the current market, defensive assets with 10+ year leases, guaranteed lease growth, and strong land value assets are performing well. For example, I recently valued a mixed use $18.5 million asset with a child care centre and national retail chain tenant that offered a 5.5% return. Destination shopping strips in High St, Armadale; Church St, Brighton; Kings Way, Glen Waverley, and Box Hill are also performing strongly, as are shopping strips in some mortgage belt suburbs,’ observed Stuart. ‘However, secondary retail continues to struggle and there is a shallower pool of investors interested in vacant properties, particularly because of the unknowns associated with the length of vacancy and the incentives needed to secure a lease. It’s likely the headwinds of rising interest rates and the impact of global uncertainty on local markets will also be felt by the secondary market,’ he added.
Outside of work, English-born Stuart loves spending time with his young family, cheering on Chelsea FC, and visiting his wider family who live across Europe.
Book a retail asset consultation with Stuart or Duane now
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DISCLAIMER
This article is produced by Opteon Property Group Pty Ltd. It is intended to provide general information in summary form on valuation related topics, current at the time of first publication. The contents do not constitute advice and should not be relied upon as such. Formal advice should be sought in particular matters. Opteon’s valuers are qualified, experienced and certified to provide market value valuations of your property. Opteon does not provide accounting, specialist tax or financial advice.
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