National firm takes slice of LMW Hegney

National property valuation and advisory firm LMW Group has taken a 10 per cent stake in its Western Australian partner, LMW Hegney, in a move expected to strengthen the partnership between the firms.

LMW Group also has options to secure a further 17.5 per cent, however no other terms of the transaction were disclosed.

LMW Hegney chief executive Nathan King said the backing of LMW Group over the past four years had allowed the firm to become a leading valuer in the industry, following its merger with Glendinning Property Consultants in 2012.

"From a national perspective, our network of offices has now positioned itself to be ranked in the top tier of firms providing valuations for the finance sector," Mr King said.

"LMW becoming a shareholder and having a board representative in the WA business will allow the firms to solidify our relationship and work seamlessly in creating new opportunities."

LMW Hegney is the valuation arm of Hegney Property Group, founded by prominent WA property executive Gavin Hegney around 25 years ago.