John McGrath finally thinks of venturing into Victoria
McGrath Estate Agents, started by high-profile chief executive John McGrath in 1988, has appointed Simon Mordant of Luminis Partners to advise on growth options, including a long rejected venture into Victoria.
According to an internal email obtained by the Street Talk column at the Australian Financial Review, McGrath is exploring a number of growth opportunities and methods for funding them.
"As part of this process, we've appointed Simon Mordant of leading independent advisory firm Luminis Partners to work with us on our company's long-term growth strategy," McGrath said in the email.
"Assembling the best team is always paramount to our success.
"As we grow our great company, we are now focusing on our move into Victoria.
"We are receiving strong enquiry from quality real estate businesses who have expressed their interest in partnering with us to extend our six-star service offering south of the border.
Street Talk reported last year McGrath Estate Agents was exploring an initial public offering and also potentially buying out franchisees.
McGrath Estate Agents has 62 offices across NSW, south-east Queensland and the ACT, most of which are franchises.
