Franchise group opens city and country offices

Richardson & Wrench has expanded its footprint with three new offices added in the past two months.

The group has recently added two new Sydney offices – Hinchinbrook/Hoxton Park office on 15 February and Ryde City on 1 January.

It also strengthened its presence in regional NSW by opening a Bathurst office on 22 December.

The three new offices joined the network via different routes – one switched from a rival franchise, one transitioned from being an independent, and the other involved a partnership of five agents.

Executive director Andrew Cocks said Richardson & Wrench’s tailored franchise structure offers different levels of support for operators at different stages of the business cycle.

“This is a natural progression of R&W bespoke, which acknowledges that the one-size-fits-all franchise model does not suit everybody,” Mr Cocks said.

“We’re about attracting the best operators who share the R&W values and working with them to develop a structure that suits their circumstances and business goals.”

Mr Cocks said another attractive part of the Richardson & Wrench model is that it offers exclusive territories. The group has more than 120 territories operated by 102 offices.

According to CoreLogic RP Data figures for January, Hinchinbrook’s median prices are $554,000 for houses and $450,000 for units.

That represented annual growth of 13.9 per cent and 14.2 per cent, respectively.

Ryde houses jumped 34.4 per cent to $1.2 million, while units rose 6.5 per cent to $660,000.

Bathurst houses climbed 1.9 per cent to $322,000, while units grew 6.4 per cent to $261,000.

[Related: R&W franchise celebrates 30th anniversary]

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