Knight Frank and Bayleys acquires third largest real estate firm in Australia
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Knight Frank and Bayleys acquires third largest real estate firm in Australia

The announcement follows shareholder and regulatory approvals being met

By Robyn Willis
Fri, Jun 28, 2024 11:48amGrey Clock 2 min

Knight Frank and Bayleys has completed its acquisition of leading Australian real estate firm, McGrath Limited, it was announced today.

The news follows regulatory and shareholder approval, with the Scheme of Arrangement coming into effect on June 17 and implemented on June 27.

McGrath Limited is the third largest real estate group in the country, according the data from CoreLogic, behind behemoth Ray White and stalwart LJ Hooker.

McGrath founder and CEO John McGrath said in a statement that he welcomed the move.

“We are delighted to be joining forces with two of the greatest real estate brands in the world,” Mr McGrath said. “Knight Frank is the most prestigious residential agency globally and provides us and our customers with instant access to the best global network and the most sophisticated international buyers in the world.

“Our goal is to build Australia’s leading and finest real estate brand over the next few years and this new partnership and network puts us in an extraordinarily strong position to do just that.”

John McGrath will stay on as CEO and managing director under the new terms of the agreement with Knight Frank and Bayleys.

Between them, Knight Frank and McGrath have 171 offices across Australia and Knight Frank is the largest privately owned real estate agency in the world with more than 740 offices worldwide.

Mr McGrath will remain at McGrath Limited as chief executive and managing director and retain his 23.3 percent shareholding in the company. Mr McGrath will also be on the new board of directors, along with Knight Frank Australia CEO James Patterson, Knight Frank Global head of residential Rupert Dawes, Bayleys managing director Mike Bayley and Bayleys finance director Ken MacRae. 

Mr Patterson, CEO at Knight Frank Australia, said the acquisition represented a significant milestone in the company’s international expansion.

“McGrath is a great fit culturally,” he said. “We are aligned on many areas including our values, how we operate and our brand positioning. The Knight Frank, Bayleys and McGrath teams will continue to operate on a ” business as usual” basis, but with each party gaining access to vastly broadened networks, stretching across multiple borders, unlocking greater opportunities for our clients.”

 



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35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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Property of the week: 32 Isaac St, Spring Hill
By KIRSTEN CRAZE
Fri, Nov 8, 2024 2 min

Spring Hill Enviro-Cottage is the ultimate fairytale of old meets new, an architectural marriage of two distinctly different eras that seamlessly come together in 21st-century Brisbane.

The Isaac Street home is one of Spring Hills original workers’ cottages that in 2010 was expertly transformed into a uniquely sustainable home with all the modern-day must-haves and plenty of boxes ticked on the wish list too.

While preserving the classic Queenslander, the 286sqm property has been reimagined to deliver an innovative and eco-friendly address. 

Kitchen joinery has been crafted from reclaimed timber, there is environmentally friendly paint, a suite of energy efficient appliances, solar power, underground water storage, and an Eco Plunge Pool.

Although the charming period facade remains, the rear of the house has an ultra contemporary backdrop of patterned Corten steel privacy screens that minimise heat and create dappled light across the interior spaces. At night, the unique partitions geometric laser-cut design provides a star-like feature in the main bedroom suite.

The considered passive design principles extend to the strategically located louvres, doors and windows that draw in cooling breezes, while a vast skylight over the dining area and kitchen allows for plenty of natural light in winter. Burnished concrete floors keep the ground cool and grand walls of glass peel back to reveal a seamless flow to the outdoors with a grassed and landscaped private courtyard. 

Although the ground floor has been designed for everyday living and entertaining, the multi-purpose front room with ensuite is an ideal guest retreat or even a perfect ‘work from home’ space complete with a separate entry via the front patio. 

Upstairs, a mezzanine lounge provides another breakout area for families, and the two first floor bedrooms open out to the traditional full-width balcony overlooking the street. These bedrooms have built-in wardrobes and desks with a shared family-friendly bathroom.

At the rear of the footprint, a freestanding two-storey pavilion features yet another living space next to the pool with an integrated bar. Above the space the top floor main bedroom has an ensuite and walk-through wardrobe.

A long list of bonus features include ceiling fans in all bedrooms and living areas, a thermostat-controlled whirlybird to extract excess heat, a 5kW solar system with a SMA Sunny Boy inverter, a 20,000L rainwater tank, a filtering and UV disinfection system and a solar hot water system with 450L storage tank.

Although there is a lock up garage, this city-fringe home is within walking distance of Roma Street Parkland, Roma Street Station and Victoria Park. Brisbane Central State School is also only two streets away.

In keeping with Queensland consumer law, properties going under the hammer cannot carry advertised price guides.

This Brisbane home at 32 Isaac St, Spring Hill is on the market with Ray White New Farm with an auction date set for November 30. For details contact agent Samuel Angus on 0411 044 949.

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This stylish family home combines a classic palette and finishes with a flexible floorplan

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