Former president of the Law Council of Australia (LCA) John Corcoran has returned to full-time practice by sealing a $34 million dollar property deal in Melbourne.
Corcoran, who recently handed over the LCA leadership to Glenn Ferguson and returned to fulltime work as partner at Russell Kennedy Lawyers, sealed the acquisition of a significant commercial building for client Henkell Brothers.
"I have really enjoyed having one or two larger transactions to get my teeth into straight up," said Corcoran.
"The opportunity came up and [the client] bought the property, which I think shows a bit of confidence in the commercial office market in Melbourne, which has been quiet for some time."
Corcoran's return to his fulltime role at Russell Kennedycoincides with what he believes to be a period of renewed interest and growth in the property market.
"I am speaking to ...agents in the area and there certainly is a lot more buyer interest than there was in 2009. There is no doubt about that, particularly for well-located, well-leased properties," he said.
And while Corcoran relished his role at the LCA - which he said never left him with a dull moment - he is glad to have slipped back into his usual role.
"It is certainly a change. Last year was a very challenging and enjoyable year as president of the Law Council. Likewise, being back in fulltime practice ... has been enjoyable as well," he said.
"I have enjoyed the re-engagement with my clients and also working with my colleagues who had covered for me so well in my year away."
Corcoran is also watching with great interest how the national profession reforms play out, though now as a spectator rather than a participant.
"I spent a lot of last year working on the national profession project and the Law Council was one of the major proponents of the national profession being elevated to the agenda, because it is a really important industry that needs to be better regulated in a more seamless way," he said.
"I am watching from a distance this year, but I am pleased to see we are moving down the track towards seamless national regulation."
- Claire Chaffey
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