Stockdale & Leggo announces sale to new owners

Stockdale & Leggo has announced it has been sold to its chief executive Charlotte Pascoe and Ben Thomas, son of former owner, Peter Thomas.

The Announcement:

Stockdale & Leggo has today announced a changing of the guard, with long-time owner Peter Thomas selling the business to son Ben Thomas and chief executive Charlotte Pascoe.

The agency, which has 39 franchises, started with one Melbourne office in 1936 and quickly became a household name in Victoria, growing to more than 100 offices and 1000 staff at the business’s height.

Ms Pascoe said the new ownership had been under discussion for several months.

“It’s something that has been on the agenda for a little while and we are fortunate to have had the luxury of time to consider all of different contingencies, and give due consideration to how to best structure the business to secure its long-term future and that of our staff,” Ms Pascoe said.

Ben Thomas, founder of real estate development company Three Pillars, will act as a company director, while co-owner Ms Pascoe will remain in the position of chief executive.

“My decision to invest in the business is a show of my commitment and confidence in the business’s capacity for growth,” Ms Pascoe said.

“The past few years at the helm have been incredibly intense and I am really proud of how our staff have worked together to not just steady the ship, but turn the financial tide to once again become a profitable and thriving business.

“We have worked really hard to build a solid foundation to grow from, and both Ben and I are keen to explore ideas about what we can be doing even better to differentiate ourselves from other agencies, both within the business and with our clients.

If there was any upside to Covid, it was forcing us to look at how we could do things a bit differently, while still respecting the heritage baked into the Stockdale & Leggo brand.”

For Ben Thomas, taking over the reins from his father felt like a natural progression.

“Property is in my blood – I’m third generation. Dad has been with the business for more than 40 years and I watched first hand as he pioneered the real estate franchise industry.

I’m really proud to be stepping into his shoes and excited to work with Charlotte to continue to innovate and expand the business,” he said.

“Both Charlotte and I are committed to continuing Stockdale & Leggo’s ethos of people first, proudly leading a franchise model that values people as individuals, focusing on individual measures of success and fostering talent to create a new generation of business leaders.”

Peter Thomas said while the decision to step out of the business had been a difficult one, the timing was right.

“I am really proud of my legacy and the team I have built, particularly over the last five years.

Like anyone in property, I have ridden a lot of highs and weathered some lows, but I am satisfied the business is in a good place and that Ben and Charlotte are the right people to take it to the next level.

I am looking forward to celebrating the business’s continued success,” he said.

Source: Narrative Comms

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