22/02/2017 - 14:46

Elders to buy Bunbury real estate business

22/02/2017 - 14:46

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Elders has announced plans to expand its real estate presence in the South West through the acquisition of Bunbury-based Southern Districts Estate Agency for an undisclosed sum.

Elders to buy Bunbury real estate business
Elders general manager real estate Tom Russo.

Elders has announced plans to expand its real estate presence in the South West through the acquisition of Bunbury-based Southern Districts Estate Agency for an undisclosed sum.

Under the agreement, Elders will wholly acquire the rural real estate and auctioneering business, which operates from three locations in the South West, and amalgamate the target’s 60 employees into its existing national real estate network of about 1,200 personnel.

The target will be rebranded as the Elders Southern Districts Estate Agency.

If the acquisition is successful, the target company will continue to provide rural, residential and commercial sales offering, as well as both residential and commercial property management.

“We are focused on lifting the service offering for our teams, branches, franchise principals and, most importantly clients – ensuring we’ve got innovative solutions and investing in experienced professionals to achieve operational excellence,” Elders general manager real estate Tom Russo said.

Elders west zone general manager James Cornish said the company’s existing Bunbury branch was an important part of its business and had achieved tremendous growth in recent years.

“We are committed to growing the business and our presence in the South West region and the acquisition of SDEA presents an excellent opportunity to further diversify our client offering across our core products and services.”

The integration of the two businesses will take place over the coming months.

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