PRDnationwide – the residential franchise of Colliers International – has secured a commercial interest in one of Victoria’s bigger regional realtors, Jens Gaunt.
“This is a significant event in the businesses history,” PRDnationwide managing director Grant Dearlove said.
“It’s always been a part of our strategy to grow the business into regions where our brand does not exist,” he added.
“We will now have eight offices in Victoria from which to grow.”
The branches to become PRD Jens Gaunt include Ballarat, Bendigo, Buninyong, Kyneton, Melton, Werribee and Warrnambool.
The former Hayden brokerage at Geelong will now be named PRDnationwide Geelong.
Mr Dearlove added the venture is strategic.
“There are a multitude of businesses out there in the residential franchise sector that just don’t operate at a level of earnings and market share that would attract our interest – but Jens Gaunt are certainly a dominant brand,” according to the executive.
“The reason for securing commercial interest in the business is to expand PRD’s Victorian base and to execute PRD’s Pathway 2010 strategy of growing – not only organically – but through acquisitions,” he added.
Colliers International and PRDnationwide merged in 2006 to form the largest commercial and residential property service provider in the country.
Jens Gaunt was established in 2001.