Barfoot & Thompson Makes Strategic Investment In Hamilton Real Estate
Barfoot & Thompson has made a strategic, 50 percent investment in Hamilton’s leading real estate company, Lodge Real Estate Limited.
“This initiative is our second strategic move to have a greater profile in the Auckland, Hamilton, Tauranga triangle as these cities become more interdependent and more closely aligned economically,” said Peter Thompson, Managing Director of Barfoot & Thompson.
“Our first investment was the establishment of a property management company under Barfoot & Thompson branding in Tauranga.
“The economic development of the top half of the North Island is increasingly centring around the ‘golden triangle’.
“It will lead to greater business and people movement, population growth and business opportunities.
“As a business we plan to participate in that business growth.
“Growing regionally will also make us less dependent on the Auckland market, which makes good business sense.
“The other 50 percent shareholding will continue to be held by Lodge’s Managing Director, Jeremy O’Rourke.
“The Lodge brand is Hamilton’s equivalent of Barfoot & Thompson and is its market leader.
“Lodge will continue to operate under its existing name, branding and senior management team. Barfoot & Thompson’s representation will be at board level.
“We are both members of the NZ Realtors Network and we have had a close relationship over many years.
“It was this close relationship, and our shared values around family culture, and commitment to superior customer satisfaction and community support that attracted us when initially approached by Lodge to take up the shareholding of retiring owner, David Couch.
“Over time, each company will benefit from incorporating each other’s expertise, practices, technology, marketing and training into their own operations.
“Barfoot &Thompson will continue to make investments in Auckland, Hamilton, Northland and Tauranga as and when business opportunities arise.”