Merger brings Colliers International and Hoamz together
Colliers International is launching its first specialist residential real estate division in New Zealand through the merger of its Queenstown franchise with award-winning local residential agency Hoamz.
The merger brings together two long-established, locally owned companies under the global brand and network of Colliers International.
The new company, Otago Realty Holdings Ltd, will operate as a franchise of Colliers International NZ Ltd from a target merger date of 1 November.
Operating from offices in Queenstown, Wanaka and Dunedin, the company will provide Otago’s only full service real estate offering with specialists in residential real estate and commercial sales, leasing, valuation and advisory.
Colliers International Queenstown Managing Director Alastair Wood, who will head the new company, says it will build on both brand’s existing strengths.
”The merger has come from a unique set of circumstances not often seen in our industry, where both companies are very strong in their particular sectors with very little crossover,” he says.
“Combining our resources not only provides better opportunities for staff and business growth; it will also give our clients access to the region’s only full service real estate offering, with the backing of Colliers International’s global brand, knowledge and expertise.”
Hoamz Managing Partner Fred Bramwell, who will lead the agency side of the new business, says he is excited by the opportunities.
“While we’re saying goodbye to the Hoamz brand locally, we’re ensuring we keep ahead of the market to meet the needs of both sellers and buyers,” he says.
“Since launching our business in 2003, we’ve always looked to offer something different and unique to our customers. We’re confident that joining an innovative, market-leading global brand like Colliers International will achieve just that.
“Our two brands are already well aligned in terms of philosophy, culture and unmatched teamwork. We’re confident the merger will not only bring us a new look; it will give us even greater reach.”
Bramwell says both award-winning firms will gain access to previously untapped markets.
Colliers International offers Otago-wide Commercial and Industrial sales and leasing services; with specialist Residential Investment services in Queenstown and Dunedin. Both firms have expertise in Residential Project Marketing.
The new company will also incorporate the region’s largest full service independent Valuation and Advisory business combining the existing Colliers Queenstown and Wanaka practices with Dunedin-based Chapman Consultancy, allowing the new company to offer Otago-wide Valuation services.
Colliers International New Zealand Chief Executive Mark Synnott says the opportunity supports his vision for growth in New Zealand.
“Queenstown is the perfect place to establish a full service residential business alongside our already well-established commercial business,” he says.
“Residential projects and high-end residential are key growth areas, with the former being the largest product line for Colliers International in Australia.
“We see the opportunity to harness this expertise as very closely aligned with our existing commercial business, especially as Queenstown continues to offer lifestyle and development opportunities for our clients.”
Synnott says it is rare to see two established businesses with such well-aligned values and cultures not competing with one another in a small region like Queenstown/Otago.
“Our people and culture are what make us work so well, so it’s exciting times ahead.”
The combined teams will comprise 10 commercial brokers, 17 residential agents and 15 valuers, plus administration, marketing, accounts and agency support staff.
Hoamz won New Zealand Agency of the Year and Community Achievement of the Year at this year’s Australasian Real Estate Results Network Awards.
Colliers International won Property Business of the Year and Property Innovation at the recent Property Institute of New Zealand Awards. It also won Industrial Team of the Year, Retail Team of the Year and Young Achiever of the Year (Chris Farhi) at this year’s RICS New Zealand Awards.
Get the latest commercial real estate insights and property news.
Looking for commercial real estate? Try our property search or connect with expert commercial real estate agents today.
Need your real estate assessed? Work with our expert property valuation services team.