Rebounding property market fortunes sparks management buy-in

Press Release – Bayleys

Rebounding property market fortunes sparks management buy-in at leading real estate agency

The ever-improving fortunes of Northland’s property markets have seen a senior manager at the region’s leading real estate agency buy a sizeable shareholding in the company.

Bayleys Whangarei manager Tony Grindle has this month taken a 30 percent shareholding in Mackys and Partners Mid North – which operates the Bayleys branches in Whangarei, Bream Bay and Dargaville.

The remaining 70 percent shareholding of Mackys and Partners Mid North continues to remain with brother and sister founding shareholders Mark Macky and Kirsty Stevenson. Both Macky and Stevenson are grandchildren of Bayleys founder Graham Bayley who started the wholly Kiwi-owned company 41 years ago.

Former police detective Tony Grindle joined Bayleys in 2002 – selling farms and lifestyle blocks in Northland, and quickly establishing himself as a top salesperson in the rural sector.

Grindle has lived in Maungakaramea south-west of Whangarei with his Northland-born wife and two children for the past 20 years, and is an avid supporter of the Northland rugby team.

The step up from management into company stewardship will see Tony Grindle take on a more strategic planning role for the firm’s three owned branches. This will encompass their activities in the commercial, industrial and residential markets – building on his expertise in the rural sector.

To bolster the senior management team, Bayleys Kerikeri manager Jill White is transferring to Bayleys’ Whangarei branch, where she will assist Tony Grindle in growing the brand’s residential and lifestyle market share in the mid-North belt.

“Acquiring a one-third shareholding in the company is a natural progression for a bloke who came into the agency as a rookie 13 years ago and has steadily worked his way up the ladder,” Mr Grindle said.

Majority shareholder Mark Macky said Tony Grindle’s partnership in the firm was a just reward for a proven senior manager who had grown the three key business indicators of revenue, turnover, and the staffing complement, over the past 12 months.

“Sales volumes have grown by 21 percent in the year to May. Staffing numbers have grown comparable by 20 percent in the same period from 20 to 24 sales people. I have been mindful that as the business grows, so to must the support and management services for our staff and vendors,” Mr Macky said.

“We are excited by the opportunities this new ownership model will create in broadening the appeal of our quality service and brand exposure for vendors.”

Mr Grindle said that dove-tailing on Auckland’s red-hot residential and commercial property sectors, Northland’s real estate markets were looking far healthier now than they had been for several years. The improvement in sales volumes and values had been steadily gathering momentum since the beginning of 2014.
“In the residential scene, we are seeing sales volumes lifting in the $450’000 plus price bracket as a growing number of Aucklanders look to cash up their positions in Auckland, clear their mortgages and move North debt-free… usually into bigger homes,” Mr Grindle said.
“That is enabling longer-term Whangarei residential land owners to sell up their city premises and move to lifestyle properties – predominantly along the coastal route out to Whangarei Heads.”
ENDS

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