NewswireToday - /newswire/ -
Sydney, New South Wales, Australia, 2011/01/31 - Leading residential real estate group McGrath Estate Agents today announced it will open a new office in Palm Beach, further extending the reach of its prestige brand in Sydney’s Northern Beaches.
John McGrath, Chief Executive of McGrath, said the new office would provide the residents of Palm Beach and Whale Beach with a focused and quality-driven approach to real estate.
"Palm Beach, with its beautiful natural advantages, has long been recognised as one of Sydney’s most desirable lifestyle suburbs,” said Mr McGrath. "Although we have been dealing in this market for many years through our Avalon and Mona Vale regional offices, it really is time we established a visible presence here.
"Our name and brand is already well recognised not only amongst permanent residents but also many of our clients from surrounding regions, particularly the eastern suburbs, who have weekenders at Palm Beach."
The new office, with franchisee Shane Smollen at the helm, is strategically located between Barrenjoey Restaurant and The Ferry House, and will open on the 9th December.
Mr. Smollen said, "There is no other real estate market in Sydney that quite compares with Palm Beach and Whale Beach. The area is composed of only 1000 homes but their value is quite extraordinary. For that reason alone, vendor expectations of their real estate agent are extremely high. As RP Data reports, in the year to date 59 properties have sold at an average price of $2.75 million.”
The sales team will be led by Noel Nicholson, who has been selling real estate on the peninsula for five years. Mr Nicholson has achieved record prices for a number of properties in the Palm Beach area, notably $5 million for 203 Whale Beach Rd, $6 million for 153 Pacific Road, and $4.35 million for 109 Bynya Rd.
Mr. Nicholson said, "Some of the most successful and celebrated identities in Australia count Palm Beach as their permanent or weekend residence and they demand a high level of professionalism, ethics and above all, results.”
Palm Beach resident Desiree Lenart will take on the role of Client Service Manager and the handpicked sales team will work closely with other northern beaches offices from Mona Vale and Avalon.
Mr McGrath said the demands of the Palm Beach property market made McGrath a perfect fit for the area.
"We expect our approach to real estate marketing, professionalism and personal service will resonate with residents of Palm Beach and Whale Beach, ” said Mr McGrath. "We are renowned for the quality of our marketing, extensive use of technology and attention to detail.
"Our sales results speak for themselves – more than $5.0 billion in real estate transacted in the last financial year, much of it from repeat business.”
With about 70 per cent of the 1000 properties in Palm Beach and Whale Beach being holiday homes, the permanent population is relatively small. Being part of the community fabric is important and McGrath Palm Beach/Whale Beach will sponsor the local Palm Beach Kindergarten. In addition, they have also pledged ongoing financial support to NBI (Northern Beaches Interchange), a group that offers respite and recreational support to local families that have children with a disability.
The rental market, which is at its peak throughout summer, always creates great sport for celebrity spotting.
"About 20 per cent of the properties in the area are offered for rental in the Christmas and New Year period, ” said Mr Nicholson. "A beachfront home can rent out for upwards of $45,000 a week.”