This article is from the Australian Property Journal archive
DTZ has expanded its footprint along the eastern seaboard with acquisition of Wright Property Group.
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DTZ chief executive for Australia and New Zealand James Patterson said this is a significant transaction for the agency and builds on the momentum that has been achieved globally with the Cushman & Wakefield merger.
“This acquisition provides an ideal strategic platform to expand our geographical reach, leveraging Wright Property’s strong local agency presence with our market leading facility management platform.
“The firm’s strong leadership team, under managing director Glen Wright, Nick Spiro, Michael Callow, Aaron Dahl, Corey Bott and Scott Dalton, combined with the agency’s market leading reputation in the commercial and industrial markets, make it an ideal partner for DTZ to leverage and take full advantage of the significant growth opportunities in south eastern Queensland,” Patterson said.
Established in 2002 by Glen Wright, Wright Property has offices in Brisbane and the Gold Coast, specialising in the industrial, commercial and retail sectors as well as property management and research.
Wright Property employs more than 50 staff in Queensland with over $1.3 billion transactions in 2014/15.
The company will continue to operate under the Wright Property Group brand until the DTZ and Cushman & Wakefield merger closes, which is expected before the end of the year.
“This transaction provides us with an exceptional opportunity to harness the power of DTZ’s global network and provide an amazing platform for our young aggressive talent to grow and lead,” CEO Glen Wright said.
“Over the past 13 years we have developed an exceptionally strong business, particularly in the industrial and commercial sectors where we are considered a market leader in Queensland. There are clear synergies between the strengths of DTZ and Wright Property and I’m excited about the opportunity to provide a market leading offering to clients, both locally, nationally and globally,” he added.
DTZ`s Asia Pacific businesses will now employ 1,550 staff across Australia and New Zealand and will generate revenues of more than $295 million. Following a number of recent facility management successes, DTZ is expecting to grow into a 1,800 workforce by the end of 2015.
Australian Property Journal
