One of Australia's largest real estate networks hopes to capitalise on one of Australia’s fastest growing markets – south Sydney – with its acquisition of an industrial and commercial real estate agency.
LJ Hooker has entered into an agreement to acquire specialised industrial real estate and property management company Billicorp, with the transaction to be settled in November.
Billicorp has relocated to LJ Hooker’s head office in Sydney and will initially continue to trade as Billicorp until it transitions to LJ Hooker Commercial South Sydney.
Managing director of Billicorp, Kristen Marsh, will lead LJ Hooker Commercial South Sydney as director of sales in conjunction with Mr Duncan. Ms Marsh’s current team of senior negotiators, sales and leasing executives and support staff at Billicorp have also joined the group.
Georg Chmiel, CEO of LJ Hooker Corporate, said Billicorp comprised of a dynamic, innovative and well-recognised team that had an intricate understanding of the local market and long-term relationships.
“Ms Marsh has built a strong brand and reputation in the industry supported by a good team of operators,” he said.
Ms Marsh said she and her team were excited to be able to bring their experience and client relationships to LJ Hooker.
“Our clients will still receive the same personalised, quality senior attention that they’re accustomed to, but will now be able to benefit from the reach of LJ Hooker’s international network of 700 offices, which will be particularly attractive to developer clients and vendors.”
LJ Hooker's head of commercial, Patrick Brush, said the network's 23 franchised commercial offices would undergo a brand refresh in the first quarter of next year, and had plans to change the trading name of LJH Commercial to LJ Hooker Commercial, along with an updated suite of brand assets.
“I’m excited about supercharging the LJ Hooker Commercial brand and offering in South Sydney," Mr Bush said.
“More signboards equal greater market share and whether these are commercial, as will be the case in South Sydney, or residential, it’s good for our brand as a whole. All our offices will benefit at some level.”