Director of Morton & Morton, Ewan Morton, winner of the 2014 Real Estate Business Excellence Award, said the companies will have completely merged within about a month and will concentrate solely on property management and sales within Sydney’s CBD.
Mr Morton said the move allows Morton & Morton access to offices across the Sydney CBD, including Circular Quay, Hyde Park, Woolloomooloo and Pyrmont.
He refused to comment on how much he paid for Wilson Property Agents but said his company is always on the lookout for different opportunities.
“We have an existing property management business but this purchase gives us an extra 400 properties, so between the two of us we say we are the number one and two businesses in the CBD,” Mr Morton said.
“Wilson was the logical choice because both of us are in the same market and our property management businesses were even competing in some places.
“They are focused on the CBD and have a nice office opposite Hyde Park [that] we will take over and rebrand as Morton & Morton… It’s also a strong testament to the fact that I believe the Sydney CBD and city fringe residential property market will continue to deliver strong returns for investors and buyers into the future.”
Former Wilson Property Agents principal and managing director Adrian Wilson has announced he will leave the company.