Archive | Merger

Valuation merger creates Crighton Stone

Published 27 May 2010

Napier valuation firm Logan Stone Ltd (Boyd Gross & Frank Spencer) has joined forces with Christchurch-based Crighton Anderson Property & Infrastructure Ltd (Greg Anderson & Tim Crighton, Christchurch; & Roy Austin, Auckland) to form Crighton Stone Ltd.

Mr Spencer said the combined venture would offer greater resource for traditional work, while providing leadership to individuals, business & Government entities grappling with the significance & value of tangible & intangible assets: “The future is about property rights, natural resources, energy, land corridors & access rights, water rights, infrastructure, the foreshore, emissions trading, ownership structures, fractional interests, environmental values & much more.

“All of these require much thought and the application of experience & pragmatism to resolve values and identify solutions in both market & non-market scenarios.”

The new firm has 17 staff spread around 6 offices in Christchurch, Marlborough, Nelson, Tauranga, Auckland & Hastings.

Mr Spencer said the 2 companies had worked closely in the past and it made sense to combine their areas of expertise, providing an independent niche practice.

Mr Anderson & Mr Austin are directors of independent investment bank Northington Partners Ltd, which has 10 investment banking executives in Auckland & Christchurch following a merger with Crighton Anderson Corporate Finance Ltd.

 

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Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.

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They’re merged, but more change may come

Property groups get their merger done

Valuers and some other parts of the property industry have at last formed a joint organisation, but it may still only be a halfway stage.

The biggest block in merging various property organisations has been the Valuers Act, which remains in place until repealed. The previous government almost got that event on the books, but now the new NZ
Property Institute needs to resume pressure to get that change.
The new institute combines the Institute of Valuers, the Property & Land Economy Institute and the Institute of Plant & Machinery Valuers into a 3000-strong group.

Its president, Allan Ford, said today the institute had joint standards with the the Australian Property Institute, which has headed more to a relationship with the investment sector.

The alternative for future strength was the British model of the Royal Institution of Chartered Surveyors, which drew in surveyors and quantity surveyors as well as valuers.

The merger effected this month has taken at least a dozen years to achieve, and originally included the Farm Management Society. It follows an attempt in the late 70s to get an industrywide group, and comes at the same time as the corporate-oriented Property Council plans to cement its role as an industry lobbyist.

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