Melbourne real estate agency Jellis Craig has acquired boutique operator Greg Hocking Real Estate.
The announcement:
Greg Hocking Holdsworth Albert Park has transitioned across to Jellis Craig and is now operating as Greg Hocking Jellis Craig Port Phillip.
The Albert Park office, one of Greg Hocking’s largest and most successful across the group, is the first office to transition to Jellis Craig as part of the acquisition announced in May.
Staffing numbers at Jellis Craig, headed by former Macquarie banker Nick Dowling, will rise by about 100 to 850 after the acquisition of the 10-office franchise network founded by Melbourne veteran Greg Hocking, and give the combined group 37 offices.
The business will operate in a co-branded capacity for a short period of time, before transitioning entirely to Jellis Craig Port Phillip later in the 2021 calendar year.
“I am delighted that the Greg Hocking Albert Park office is the first to transition to Jellis Craig. Their resources, unwavering commitment to professionalism and industry-leading innovation makes them the perfect fit,” said director Greg Hocking.
The transition of Greg Hocking Albert Park to Jellis Craig sees the number of offices within the Jellis Craig network grow to 28.ย
“Greg Hocking Albert Park complements our existing locations and further cements our dominant market position across key demographic areas,” said Jellis Group CEO Nick Dowling.
ย The move will push its revenue this year to more than $100 million and lay the groundwork for it to spin out a mass-market brand.
Sources: Jellis Craig and Financial Review.
