This article is from the Australian Property Journal archive
THRE is a changing of the guard at Stockdale & Leggo, with long-time owner Peter Thomas selling the business to son Ben Thomas and chief executive Charlotte Pascoe.
The agency, which has 39 franchises, began in 1936 with a Melbourne office and grew to more than 100 offices and 1,000 staff at its height.
New ownership had been on the agenda for several months.
“It’s something that has been on the agenda for a little while and we are fortunate to have had the luxury of time to consider all of different contingencies, and give due consideration to how to best structure the business to secure its long-term future and that of our staff,” Pascoe said.
Ben Thomas, founder of real estate development company Three Pillars, will act as a company director, while co-owner Pascoe will remain in the position of chief executive.
“The past few years at the helm have been incredibly intense and I am really proud of how our staff have worked together to not just steady the ship, but turn the financial tide to once again become a profitable and thriving business,” Pascoe said.
“We have worked really hard to build a solid foundation to grow from, and both Ben and I are keen to explore ideas about what we can be doing even better to differentiate ourselves from other agencies, both within the business and with our clients. If there was any upside to COVID, it was forcing us to look at how we could do things a bit differently, while still respecting the heritage baked into the Stockdale & Leggo brand.”
For Thomas, taking over the reins from his father felt like a natural progression.
“Property is in my blood – I’m third generation. Dad has been with the business for more than 40 years and I watched firsthand as he pioneered the real estate franchise industry. I’m really proud to be stepping into his shoes and excited to work with Charlotte to continue to innovate and expand the business,” he said.
Peter Thomas said while the decision to step out of the business had been a difficult one, the timing was right.
“I am really proud of my legacy and the team I have built, particularly over the last five years. Like anyone in property, I have ridden a lot of highs and weathered some lows, but I am satisfied the business is in a good place and that Ben and Charlotte are the right people to take it to the next level.”
