Colliers International has acquired the Gold Coast's largest independent commercial real estate agency, Coast Commercial, significantly increasing its market share.
Following the acquisition, a team of property managers and sales and leasing experts will take up roles within Colliers International as well as relocating to its Surfers Paradise office as of 1st May this year.
Colliers said its International Gold Coast business was set to grow by 23 per cent as a result of the acquisition.
Coast Commercial Managing Director Cameron Wilson will be the new Director in Charge of the Colliers International office on the Gold Coast, stepping into the role after Stewart Gilchrist recently announced his move to Colliers International office in Brisbane to focus on retail investment sales.
Mr Wilson said his staff were very excited about the merger.
“We look forward to joining the Colliers International team and growing our client base, our team and strengthening our services on the Gold Coast under the Colliers International banner,” Mr Wilson said.
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Simon Beirne, State Chief Executive at Colliers International said the acquisition of Coast Commercial was part of an aggressive growth plan for the Queensland business that will see a significant increase in business size and offering over the next three years.
“Several agencies were considered as part of the process and Coast Commercial was chosen due to their strong reputation and leadership, high calibre staff and experience in property management and commercial sales and leasing," Mr Beirne said.
“We were also looking to grow our real estate management services and Coast Commercial has a strong capability in that area.”
Mr Beirne noted other recent acquisitions that formed a part of the company's growth plan.
“In March this year Colliers International merged with Rich & Partners, an established commercial agency on the Sunshine Coast, and in November last year we acquired Ferry Property, a highly regarded local real estate agency in Townsville," Mr Beirne said.
“Following these acquisitions we recently relocated the Colliers International Brisbane business to One One One Eagle Street to further enhance the operating platform in Queensland.
“With a better performing Queensland economy we see significant opportunity to grow our market share, particularly over the short term.”
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