This article is from the Australian Property Journal archive
Wentworth Mutual has bought the property management business of the largest mortgage broking group in Australia – Australian Finance Group.
“We take our client’s trust seriously and we believe that Wentworth Mutual has the size, distribution and experience to acquire and manage the portfolio in the professional manner our clients have to come to expect of AFG" AFG’s executive director Brad McGoughan said.
Wentworth Mutual’s executive director Kingsley Lamont said he was equally confident about the acquisition.
"Whilst the acquisition of the AFG portfolio will impact positively on our property management business, we see a number of other benefits that will become apparent to our clients as a result of the relationship Wentworth has formed with AFG,” he added.
It is expected that Wentworth Mutual will seek to promote the services of AFG to its growing property management and management rights client base and that AFG in turn, will offer Wentworth’s property management services to its clients.
The 300 properties acquired are primarily in Perth and will be serviced by the Wentworth team based in Subiaco.
The strategic alliance with AFG will initially be in Perth, Brisbane and Melbourne with other States to follow in due course.
By Kathryn O’Meara
