New owners have taken on the highly successful Raine & Horne Salisbury agency in Adelaide.
Trinity and Tanya McNamara have assumed ownership of the office space — and the acquisition marks their third outpost, following their establishment of Raine & Horne Adelaide City and Raine & Horne Fairview last year.
Taking on the third agency marks the achievement of an eight-year dream to own a trio of real estate offices for the pair, according to a statement from Raine & Horne.
The Salisbury office acquisition follows the establishment of Raine & Horne Adelaide City and Raine & Horne Fairview by Mr and Mrs McNamara in late 2020.
Mr and Mrs McNamara take on the Salisbury business from Andrew and Amanda Harvey, with Mr Harvey to remain in sales at the business he launched more than two decades ago.
Reflecting on the passing on of the baton, Raine & Horne South Australia general manager James Trimble acknowledged the outgoing owners as having built “a robust business in the northern suburbs of Adelaide, and every year, the Salisbury office is among our best offices based on revenues and sales”.
He said: “The Harveys have handed Trinity and Tanya a real estate business that is in excellent shape, which is sensational given the McNamara’s long-term goal of owning multiple offices and dominating markets in Adelaide’s northern suburbs.”
According to Mr Trimble, “Trinity and Tanya represent the new breed of principals that we are attracting to the Raine & Horne network in South Australia”.
“Their high-energy approach to delivering the best results for their clients and their family values will be a boon for vendors and buyers in Salisbury and surrounding suburbs,” he said.
For Mr McNamara, the new office means the business is “located strategically” across northern Adelaide.
“Unlike other groups, Raine & Horne doesn’t aim to clogged-up suburbs and towns with offices on every street corner. Rather, our approach is to have offices servicing well-spaced territories with minimal overlap, which allows our offices and their agents to succeed and grow,” he outlined.
“We moved to Raine & Horne last year to help us reach our ownership goals but also because the firm’s family ownership structure and values resonated with us.”
The business is also benefiting from changing real estate trends.
Mr McNamara raised: “With median Sydney dwelling prices hitting $1 million and Melbourne close to $750,000, younger interstate buyers recognise they can stay in the eastern capitals and rent. However, they can still jump onto the real estate ladder by buying an affordable investment property in Adelaide.”
He said that around 20 per cent of the business’s buyers are now rentvestors from Sydney and Melbourne.
“Rather than spending a $1 million, these astute buyers are recognising they’ll pay half that in Adelaide and rent the property out for $450 a week,” the business owner indicated.
“This is a gross yield of close to 4.7 per cent, which goes a long way to paying the mortgage, especially if you can secure an investment home loan with a comparison rate of 2.31 per cent!”