Media Release - March 2023
New Zealand’s largest, full-service real estate agency, Bayleys, has increased its presence in the Thames-Coromandel District by recently acquiring two rival property company offices. The business has bought Pacific Coast Realty which owns First National branches in Tairua and Whangamata. These offices have commenced operating under the Bayleys umbrella, effective from Saturday, 1 April 2023.
Pacific Coast Realty currently employs 12 sales and administrative staff, who will come across to join the Bayleys Real Estate brand, supporting the agency’s local offerings, which include residential, lifestyle, rural, hotel, motel, tourism and business sales, in addition to property management and a suite of advisory services.
Bayleys Coromandel Director, Chris Bayley, says the agency’s expanded presence in Tairua and holiday hot spot Whangamata, heralds a new growth phase for the business across the north Waikato region. “The acquisition of First National’s shopfronts and experienced personnel give Bayleys a critical mass in this market. We are looking to increase our service offerings by recruiting additional salespeople in the residential, lifestyle, commercial, and industrial disciplines to reflect growing demand.” Says Chris.
The new branches will form part of the broader Bayleys Real Estate network, which spans 102 offices nationwide, employing more than 2,000 sales and support staff and is proudly, 100 percent Kiwi owned.
Bayleys Coromandel director, Shaun Paterson, says the acquisition reflects high confidence in the region’s expansion. “At the same time as many businesses are hunkering down, expecting a period of consolidation, Bayleys is geared up for growth, and performing in what we see as critical future markets, underpinning our commitment and confidence in the future of the Thames-Coromandel region,” says Shaun.
Mr Paterson added that an aging population in many smaller rural and coastal settlements is bolstered by the inflow of families, professionals, and those seeking a better work-lifestyle balance, necessitating residential development and increasing local commercial opportunities.
“Tairua and Whangamata are key locations on the peninsula. Bringing them under the Bayleys umbrella gives our business a unique coverage, positioned to benefit clients from across the country – but particularly those located within the Golden Triangle,” Mr Paterson says.
Gordon Turner, Pacific Coast Realty’s Director, who is staying on as the sales manager of the new Bayleys Tairua and Whangamata branches, says that the agency’s broad multi-disciplined reach and strategic partnership with global property consultancy Knight Frank, incoming sales and support staff, will add greater value for buyers and sellers across the district.
Caption: Karl Davis - Bayleys Hamilton, Chris Bayley and Shaun Paterson - Bayleys Coromandel
Directors - having recently acquired two of rival firm First National's offices in Tairua and Whangamata.