With steady inflows of capital from around Asia heading to the high quality, high end Sydney real estate market global real estate firm Savills has agreed to acquire the Sydney-based agency Cordeau Marshall, a leading residential agency specialising in Sydney’s North Shore and Double Bay market.
Cordeau Marshall, who currently operate under the franchise of Century 21, is a family operated business with over 30 years of dedicated experience in the real estate industry.
With offices in Double Bay, Gordon, Lindfield, St Ives, Turramurra and Roseville, they are recognised as the leading agency on the Upper North Shore. Savills will also acquire the Cordeau Marshall rent roll of 700 plus properties.
This investment follows the opening of a Savills Residential office in Chinatown in February, and will see Savills stand alone as the only provider of a complete range of residential services.
Savills CEO Australia and New Zealand, Paul McLean said, “This is an exciting venture for the Savills business and we are delighted to welcome the Cordeau Marshall team to the Savills family.
“Building our residential business has been part of our strategic growth plan for some time, so the addition of Cordeau Marshall will provide Savills with a significant footprint and a strong platform for further growth in the residential market, not only in Sydney, but nationally.
“We were attracted to this business for a number of reasons - the strength in one of Sydney’s premium residential areas, Cordeau Marshall’s leadership in innovation and engagement with the local community, but probably most importantly the cultural fit of its people with the Savills team.”
Craig Marshall, founder of Cordeau Marshall said, “We maintain our Sydney roots with our expert knowledge of the Sydney residential market by striving for excellence and remaining faithful to our clients. This partnership will allow us to leverage off a network and brand that is resolutely international.”
Savills already has a highly successful residential projects division and luxury residential business in Sydney, having achieved some of the highest residential sales in 2014 with the sale of 112 Wolseley Road, Point Piper for circa $37 million, and a record price for a city apartment in Sydney with the sale of the Eliza Penthouse for $13 million.
