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Century 21 Australia owner buys the NZ business

Published 21 February 2012

The owner & chairman of Century 21 Australia Pty Ltd, Charles Tarbey, said yesterday he’d reached agreement to acquire Century 21 NZ Ltd, which will lead to a closer partnership between the 2 real estate organisations.

He previously held a minority stake (24.99%) in the New Zealand company, but sold that to majority shareholder Egmont Properties Ltd (Murray Cleland & Bill Sinclair) in 2006.

The New Zealand business has 50 offices & 120 staff.

Mr Tarbey said the acquisition would enable greater sharing of cutting edge real-estate technologies, education programmes & events, and marketing campaigns between the 2 sister companies: “I hope to build from this strong foundation and grow the brand by importing valuable resources & new technologies from around the world, developing an enhanced focus on social media & media engagement, and by launching Century 21’s highly successful ‘Smarter bolder faster’ campaign to attract the interest of New Zealand home buyers & investors in growing numbers.”

Mr Tarbey bought the underlying assets of one of Australia’s largest property management groups, the ASX-listed Wentworth Holdings, for $A18.7 million in December and will integrate the assets – 8000 property managements & associated property managers – with Century 21 Australia.

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

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