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An independent commercial real estate firm in Sydney’s south-west has made the decision to align itself with a global real estate player.
Schell Stevens Commercial will become Raine & Horne Commercial Liverpool from 1 September 2019 and will provide a full suite of commercial property sales, leasing and property management services to Sydney’s south-west region.
Directors Bruce Schell and Vincent Stevens will head up the rebranded office, with Mr Schell stating that the alignment means the pair “can now go head to head with the major corporates as our offering is similar because of the switch”.
He explained that they were encouraged to align themselves with Raine & Horne Commercial as it “offers the family business environment that sits well with Vincent and I, and it’s a renowned superbrand”.
“Given our strong personal associations, switching to the brand is the perfect fit,” the director said.
“People seem to acknowledge the larger, well-known brands rather than an independent office.
“But we’re standing — we’ve got a bit of activity going on, but we tend to think that with our local knowledge for this region, we’ll be able to capitalise on that with the Raine & Horne banner.”
Noting that Raine & Horne Commercial boasts more than 35 offices across Australia that are all owner-managed, Mr Schell considered the crossflow of information and referrals as “amazing”.
“The brand awareness offered by Raine & Horne Commercial will prove a huge benefit, as it means being aligned with a brand people know, trust and understand,” he said.
The next stage of growth
Mr Schell told REB that the alignment is part of the firm’s consideration of “what the future holds”.
When asked whether the change will lead to office growth, the director said that the short answer is yes.
While they “haven’t put a dollar value on it”, Mr Schell outlined that the becoming of Raine & Horne Commercial Liverpool means the owners hope to be able to employ more people.
“That’ll generate more activity and generate more income.”
As an independent operation, the director said they had been limited in their ability to attract talent, as well as the people who have got the skills necessary to be able to assist in growing the business.
“We are just looking to widen our scope, our spread and reach,” he said.
The local market
The announcement comes in a “buoyant” period for industrial property sales in the Liverpool LGA, according to Mr Stevens, who has predicted that prevailing market conditions will continue for the remainder of 2019 given low interest rates for industrial finance.
“Affordable financing is driving demand for mid-range industrial space up to $2 million,” he flagged.
“Consequently, there is a lot of tightly held industrial property in the area that might hit the market as owners realise the prices they can achieve.”
Despite a “patchy” commercial market, Mr Stevens also noted demand for smaller offices from local owner-occupiers, also made possible due to the low-interest environment.
Adding to the sentiment, Mr Schell said the local area still has “quite a way to go through population growth, whether it be through the traditional urban developments and single lots and low-density housing or the high-rise, particularly around the CBD in Liverpool”.
“There’s plans afoot for more development, but I think it’ll be in the next phase as lending practices become a little more softer and people save a little bit more on the deposit side,” he continued.
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