McGrath announces Lower North Shore expansion
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Apr 29, 2019
McGrath announces Lower North Shore expansion
McGrath is set to have a greater presence on Sydney's Lower North Shore, after announcing it has entered into an agreement to acquire LJ Hooker Willoughby/Artarmon.
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McGrath Estate AgentsSydney Lower North Shore agent John McManus.
McGrath Limited has entered into an agreement to acquire the business and assets of LJ Hooker Willoughby/Artarmon in Sydney’s Lower North Shore market.
Expected to amount to approximately $2 million, the acquisition will be settled in cash pursuant to an agreement that is expected to be completed in May 2019.
According to the announcement, "the agreement is binding and all conditions for the agreement are expected to be satisfied by McGrath and business owner John McManus".
The development signals a return to McGrath for Mr McManus, who was named their No. 1 agent in FY2011 and ranked in their Top 10 for several years.
He left the company to become principal and licensee of LJ Hooker Willoughby/Artarmon in January 2014, where he has since been awarded the title of Top Sales Agent for NSW/ACT in 2018 and No. 1 World Champion Sales Person for their International division.
Mr McManus said his time at McGrath had been formative.
“McGrath is a company where I, like many high performing agents, started their career and honed their skills," he said.
"Much of what I have achieved today emanates from McGrath’s leadership, training and systemised approach to selling real estate and today, more than ever, their offering continues to be unique.
“I have a passion for the company and what it represents in terms of honesty, integrity and ethics so I see this as a great opportunity and potential not only for me and my team, but also for my clients."
McGrath CEO Geoff Lucas said he was pleased to have Mr McManus onboard to continue the company's corporate strategy of maintaining a strong presence on Sydney's Lower North Shore.
“We are excited to welcome John back to McGrath where we expect that he will make a significant contribution to our Lower North Shore business," he said.
"Having worked with John previously, I believe he is a great example of the style of agent that McGrath will seek to recruit in the future.
"John is, without doubt, an elite performer within our industry, and has an outstanding depth of knowledge with respect to the Lower North Shore market, where he has lived for over 20 years.”
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