This article is from the Australian Property Journal archive
THE Agency is making its first well-placed step into the Tasmanian property market with the acquisition leading Launceston-based real estate business, Bushby Property Group.
The national real estate company will acquire the Tasmanian business to launch the new “The Agency — Team Bushby”, following the settlement of the share sale and purchase agreement between the owners of Bushby & Co. Pty Ltd and The Agency Group Australia, with the latter to acquire 100% of issued share capital.
Philip and Mark Bushby, along with long-term shareholder Eric Anderson, will continue to head up the Bushby team, who will continue to operate from their office at 117 Cimitiere Street in Launceston.
“The Bushby team and their long-established family values align directly with our philosophies and culture. It’s obvious from the time we’ve spent with the Bushby family and management team, that there is a close cultural fit,” said Geoff Lucas, CEO and managing director of The Agency.
According to Lucas, The Agency has been looking into the Tasmanian market for some time, making the strategic move to select a well-established business to enter the southern-most state with.
“After serving the Launceston community for over 100 years and over four generations, this is a significant move for the Bushby Property Group,” Mr Bushby said. “We have full confidence in The Agency’s ability to continue our legacy and we are delighted to be bringing The Agency business to Launceston and surrounds,” said Philip Bushby, managing director of Bushby Property Group.
Team Bushby is one of the country’s oldest family-owned real estate businesses and includes nine sales agents and 32 staff.
“Rarely do we see agencies with over 100 years’ experience, especially in one local area. This level of experience cannot be replicated and it’s why this partnership is so instrumental in helping our network secure a prominent and distinguished entry into the Tasmanian market,” added Lucas.
Bushby have sold more than $125 million worth of residential properties over the past 12 months alone and currently have around $500 million across 1,300 properties under management.
“The Bushby Property Group is one of Australia’s oldest family-owned real estate businesses and their depth of experience and results align with our objective to bring the nation’s best real estate professionals together under our brand,” said Lucas.
Tasmania will mark the sixth state or territory that The Agency has expanded into across its short five-year history, with the group’s c. 400 sales agents operating out of WA, NSW, Victoria, ACT, QLD and now Tasmania.
“We are excited to retain the heritage of the Bushby name as part of The Agency and value the reputation for excellence that has been cultivated by the Bushby family over generations,” said Andrew Jensen, chairman at The Agency.
Upon settlement, which is anticipated over the next two weeks, The Agency will also boast around 4,800 properties under management.
“Bushby Property Group has long been at the forefront of real estate service in Launceston and beyond for over one hundred years. It’s a privilege to bring the highly respected Bushby brand under The Agency umbrella and continue the Bushby legacy of providing the highest quality service to the community through excellence in performance and strong results,” concluded Jensen.
