McGrath Limited enters into scheme implementation deed with Knight Frank and Bayleys

McGrath has entered into a Scheme Implementation Deed with a consortium of Knight Frank and Bayleys, under which the consortium has agreed to acquire 100% of the share capital of McGrath by way of scheme of arrangement.

Knight Frank Chief Executive Officer of Australia, James Patterson, said:

“We are excited at the prospect of Knight Frank and Bayleys potentially partnering with McGrath, which is a well-established residential property business with a wide reach within Australia. The acquisition would allow Knight Frank Australia to continue to focus on its core business of commercial property while providing further exposure to the residential real estate market through a strong brand that has the potential for future growth. It would also complement our existing residential business, which is largely through our valued franchises network. The partnership between Knight Frank, Bayleys and McGrath would see all brands operating as business as usual, but with all benefitting from vastly broadened networks, stretching across multiple borders. We believe that Knight Frank’s international residential expertise and global reach will create enormous opportunity for McGrath and their customers."

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