Ibuynew Group

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Online property marketplace iBuyNew Group Limited has expanded into Western Australia by acquiring assets from Perth-based real estate project marketing business Indo-Pacific Group Pty Ltd for $625,000.
The company said it had entered into an Asset Sale Agreement with IPG, owned by the Clough family’s investment arm McRae Investments. 
IPG operates Indo-Pacific Property and focuses on new property sales and property management throughout Australia. 
The acquisition will allow IBN to expand into property management and grow its national footprint.
IPG has sold more than 300 new properties since April 2015 across Australia with a total value of $250 million and more than $6 million in commissions. 
The deal creates a combined gross future receivables book of $6.58 million, and will be accretive to IBN’s revenue and earnings.
As part of the deal, IBN will also pay the vendors 50% of the commissions received by IBN from the future commissions receivable book in excess of $250,000. 
As part of the transaction, executive chairman of IPG and McRae Investments, Stephen Quantrill, will join the IBN board, while McRae Investments will take a 10 percent stake in the company. 
Assets purchased from IPG include a $2.6 million future commissions receivable book, a property management business and rent roll and all associated brand and intellectual property. 
iBuyNew CEO Alex Caraco said the company was looking to acquire strategic-fit assets that “will work well within our network and capabilities”.
Caraco took over as CEO from <a href="https://www.urban.com.au/news/67936-ibuynew-doubles-sales-team-as-alex-caraco-takes-ceo-reins" target="_blank">founder Mark Mendel</a> earlier this year and said the company wanted to expand its presence with plans to install sales teams in all mainland state capitals as well as on the Gold Coast.
Last year, it acquired Melbourne-based property research advisers Nyko Property Pty Ltd.  
“I also feel the WA market is at a turning point and provides great real estate value and the mining industry is now beginning to slowly recover,” said Caraco.
He said it was the right time to invest in the west.
Quantrill said the deal would provide the platform to continue growing the Indo-Pacific Property operations and brands.
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iBuyNew looks west for growth, buys Perth-based real estate business

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Online property agency iBuyNew has launched an apartment complex off-the-plan, situated close to Brisbane’s CBD at West End and monikered The One.
The building at <a href="https://theonewestend.com.au/" target="_blank">89 Victoria Street</a> is offering 61 contemporary one and two bedroom apartments, within range of cafes, restaurants, bars, shopping and recreational spaces.
A price guide of $396,000-$429,000 will land homebuyers and investors a 51 sqm one bedroom apartment, whilst $570,000-$710,000 will command a two bedroom apartment ranging in size from 70-92 sqm.
“The One West End offers lifestyle and luxury in a quiet corner of lively West End,” commented iBuyNew CEO, Alex Caraco.
“Buyers can choose from 16 individual floor plans - ensuring the home you choose is the perfect fit for your particular urban lifestyle,” he said.
iBuyNew is also offering incentives to direct customers, including no stamp duty charges and free legal fees for all buyers, while first time buyers can alternatively receive a $15,000 rebate on settlement if their purchase is below $500,000.
Investors can take advantage of an 8.0 percent rental guarantee for the first year and 5.0 percent for years two and three. Body corporate charges for owner occupiers are waived for the first year.
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iBuyNew launches apartment complex with stamp duty incentives

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Online property agency iBuyNew has appointed Alex Caraco as chief executive officer.
He was a former CEO with Coldwell Banker Australia. iBuyNew founder Mark Mendel, previously CEO, has become head of strategy.
Alex Caraco said we are working hard to expand iBuyNew’s presence with plans to install sales teams in all mainland state capitals as well as on the Gold Coast.
“This month we have boosted our Brisbane, Sydney and Melbourne sales teams as we seek to expand our sales volumes,” he said.
“Mark has worked tremendously hard to get iBuyNew to where it is today and it is fantastic that he will be continuing the journey as head of strategy.
"iBuynew would be working closely going forward with some of the nation’s leading development companies.
“We will hit the ground running with our sales and marketing initiatives to assist developers of apartments, townhouses and house and land packages.
“iBuyNew has nearly 5000 properties for sale throughout Australia and is actively seeking new quality projects to add to our vast selection.”
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iBuyNew doubles sales team as Alex Caraco takes CEO reins

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The national online property marketplace, iBuyNew Group Limited has been named among the fastest growing technology companies in the Asia Pacific region.
IBN ranked 67th on the Deloitte Technology Fast 500 Asia Pacific 2016.
The ranking in the 500 fastest growing technology companies in the region is based on percentage revenue growth over three years.
iBuyNew CEO Mark Mendel credited IBN's ongoing research and development efforts with the tremendous rate of revenue growth.
“This acknowledgement from Deloitte Technology provides us with further confidence that our recently launched online reservation system for new property purchases remains at the forefront of technology within the real estate industry.”
Toshifumi Kusunoki, DTTL Leader, Deloitte Technology Fast 500 Asia Pacific program said that making the Deloitte Technology Fast 500 is commendable in today's highly competitive technology industry.
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Ibuynew Group

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