Laing+Simmons franchisees buy the business
A group of Laing+Simmons franchisees has partnered with members of head office to buy the New South Wales boutique real estate business.
A partnership of 15 team members agreed to purchase the business from Dexar Group for an undisclosed sum. In the partnership are managing director Leanne Pilkington and some long-standing principals, including D’Leanne Lewis, Ray Fayad and Nicholas Efrossynis.
Pilkington, who is also the current President of the Real Estate Institute of NSW, shared the announcement on LinkedIn.
“What that means for the group as a whole is that the people making the decisions are actually at the coal face of the industry – no one is better place to understand the needs of today’s business owners than our diverse bunch of principals and leaders!” she said.
“We believe so strongly in the brand that we acquired it, and I look forward to what we will accomplish together under this new ownership. And hey, after leading L+S for 25 years, I figured I may as well be one of the owners, too!!”
Pilkington said the shift in ownership is timely.
“Laing+Simmons has been a fixture in the New South Wales real estate landscape since 1967. We recognise the industry is undergoing rapid evolution, which means franchising needs to evolve as well.”
The real estate business will continue to operate as a franchise while offering new franchisees flexibility in recognition of their specific skills and expertise in their local markets.
“The purchase of Laing+Simmons by network members highlights the confidence we have in the business and the potential for growth we see in the future. When the opportunity to acquire Laing+Simmons arose, the demand among franchisees was strong and the offer was fully subscribed quickly, demonstrating the belief in the brand.”
Pilkington points to the new shareholder group’s diversity in age, location and gender, and is confident the diversity will form a strong foundation for the brand’s growth.
The franchise network currently has 43 offices in key metropolitan and regional locations.