MCGRATH STEPS UP MELBOURNE PUSH

Written on the 27 January 2016 by Nick Nichols

MCGRATH STEPS UP MELBOURNE PUSH

SYDNEY real estate king John McGrath has extended his footprint into Melbourne with the opening of a second franchise in the city.

The move into the south-eastern suburb of Mount Waverley follows the opening of a St Kilda office in December.

The company is also expanding its maturing Queensland network on the Gold Coast as part of a national growth strategy that was outlined ahead of the company's $280 million public float late last year.

McGrath (pictured) says the opening of a second Melbourne office is part of a 'carefully considered and strategic rollout of premium franchises in Melbourne'.

"Mount Waverley is one of Melbourne's most dynamic and sought-after suburbs," he says.

"With a selection of leading schools and an emerging Chinese community the area has experienced strong growth and buyer demand.

"We have taken our time in selecting franchise partners who are well established in the area and share our core values for excellence and integrity.

"I am confident we have done so with the team at McGrath Waverley."

The new office will be headed by Con Lazogas and Hugh Trieu, both former Jellis Craig agents.

Under the McGrath banner, the duo will target the key suburbs of Ashwood, Chadstone, Mount Waverley, Glen Waverley and Wheelers Hill.

Meanwhile, McGrath has announced a third office for the Gold Coast at Paradise Point in the city's north. The company store will be its third on the Coast and 17th in Queensland.

The new office openings will bring the McGrath network to 80 offices along the east coast.

McGrath shares last traded at $1.70, well below their $2.10 issue price.


Author: Nick Nichols

Latest News

COMMBANK FACES 'VERY LARGE' CLASS ACTION LAW SUIT OVER MONEY LAUNDERING SCANDAL

THE Commonwealth Bank is facing a potential massive class action from shareholders because of a big drop in its sh...

NATIONAL STORAGE LIFTS PROFIT AND REVENUE ON ACQUISITION PROGRAM, HIGHER CHARGES

NATIONAL Storage REIT (ASX: NSR) has more than doubled its after tax profit to $103.4 along with a 47 per cent lif...

REJECT SHOP THE LATEST IN A STRING OF RETAILER CASUALTIES

THE PROFIT margin of discount retailer The Reject Shop (ASX: TRS) has been hammered down 27.8 per cent following a...

VOCUS CHAIRMAN STEPS DOWN AFTER $1.5 BILLION LOSS, NO DIVIDEND PAYOUT

CHAIRMAN of Australian internet network company Vocus (ASX: VOC), David Spence, will step down after the company p...

Related News

COMMBANK FACES 'VERY LARGE' CLASS ACTION LAW SUIT OVER MONEY LAUNDERING SCANDAL

THE Commonwealth Bank is facing a potential massive class action from shareholders because of a big drop in its sh...

REPORTING SEASON WRAP: WEDNESDAY HIGHLIGHTS

The A2 Milk Company (ASX:A2M) has almost tripled its profits and increased total revenue by 56 per cent off the ba...

THE MOTHER OF THREE WHO HAS SHARK TANK'S ANDREW BANKS AND STEVE BAXTER FIGHTING TO INVEST WITH HER

NOT every entrepreneur on Shark Tank Australia convinces the 'sharks' that their business is worthy of inv...

DARK DAYS AHEAD FOR AUSTRALIAN RETAIL AS REPORT FORECASTS MAJOR INDUSTRY ROUT

ALMOST 1,600 retail businesses are at risk of imminent collapse, including 21 major retailers with turnovers of more ...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter