09/01/2007 - 14:14

Wentworth buys Victorian estate agencies

09/01/2007 - 14:14

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National real estate and property management company Wentworth Holdings Ltd has commenced the new year with two strategically important acquisitions along Victoria's coast line.

Wentworth buys Victorian estate agencies

National real estate and property management company Wentworth Holdings Ltd has commenced the new year with two strategically important acquisitions along Victoria's coast line.

Having purchased the real estate portfolio of Century 21 Wilson Pride Brighton in July 2006, Wentworth has recently strengthened its presence by purchasing the property management portfolio of Century 21 Wilson Pride Brighton from Victorian industry icon Lawrie Smith.

The recent acquisition gives Wentworth an even greater foothold in the highly sought after Melbourne bayside region.

Wentworth has also announced the acquisition of the L J Hooker real estate and property management Office in Frankston, Victoria.

This business together with the recent acquisitions on the Victorian Peninsula of Crowders Real Estate and the property management portfolios of Century 21 Frankston and Mt Eliza provides Wentworth with a dominant presence in the region.

"It has always been our intention to develop local business hubs in strategic locations and the acquisitions of Century 21 Brighton and L J Hooker Frankston fit well with the Group's vision and strategic growth plans," said Kingsley Lamont, Executive Director of Wentworth Holdings Ltd.

"The additional 1200 properties from both acquisitions take Wentworth's national tally to over 14,000 properties under management across four States. This is quite an achievement for a business that in October 2005 had just 3,000 properties under management and was operating only in Western Australia" he said.

The recent Wentworth acquisitions coincide with the Group's unveiling of its own real estate and property management brand across six Offices in Victoria and Queensland.

 

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