McGrath Opens In Melbourne's North-East
Leading residential real estate group, McGrath Estate Agents, a division of McGrath Limited (ASX:MEA) continues its Victorian growth strategy with the opening of a new office in Greensborough in Melbourne’s North-East, 19 km from the city’s CBD. This will be the company’s 12th Victorian office since it first entered the southern state in December 2015.
McGrath Greensborough|Eltham will be led by Ben Flannagan alongside his father Brent, and they will be joint Principals of the new office. The Flannagans have operated a successful family led real estate business for over 20 years.
McGrath Founder and Executive Director John McGrath said he was pleased with the recent momentum in the company’s Victorian expansion with the second new office opened in the Victorian region within the last few months. “I’m delighted to welcome high calibre franchise partners join our network who are well established and respected in their local communities.”
McGrath Greensborough|Eltham will service Greensborough in the west through to Eltham in the east, and Diamond Creek in the north down to Viewbank in the South.
Christopher Mourd, Head of Franchise Network for McGrath Estate Agents said “The Flannagan family are a great addition to our offering and desire to service an important metro market of Melbourne. They have a well-deserved strong following in the local community and an excellent depth of knowledge of their marketplace.“
Brent with his wife Michelle have operated a real estate agency for many years and understand what it takes to run a successful business. It is exciting for them to watch their son Ben take the helm and benefit from the training and support that McGrath has to offer. We believe he has the potential to be one of the star agents in our group.”
Ben Flannagan is positive about the local market as it is seeing a continued trend of young professional couples from the inner ring of Melbourne to areas such as Greensborough, Eltham and Diamond Valley for the lifestyle and value that is on offer.
“We continue to see the strongest interest from families wanting to upsize with owner-occupiers being the predominant buyer group. Given that we are just 19km from the CBD, the areas is highly desirable as it is a short commute for work.Ben adds, “Greensborough Plaza is a big drawcard as it offers an extensive range of retail and leisure for the community and has done for the past 40 years.”
*Corelogic reports 81% of homes are owner-occupiers, with a median house price of $771,234.
McGrath Greensborough|Eltham will open with team of five, and its property management division will have a rent roll of 95 properties.