Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

DTZ acquires Grosvenor Hickey Tindale


For Release

6th September 2005

DTZ acquires Grosvenor Hickey Tindale

Leading international property firm DTZ has elevated its position in the Sydney marketplace via the acquisition of Grosvenor Hickey Tindale (GHT) considered to be one of the city's highest profile and leading commercial leasing agencies. The acquisition of GHT is consistent with DTZ Group's strategy to grow its share in the Central Business District's of key cities.

The Company was formed in September 2001 by Julian Grosvenor, John Hickey and Mark Tindale. Since inception, the agency has leased substantial amounts of space in the Sydney CBD and fringe, via the conduction of successful major leasing campaigns on behalf of property clients including Investa, Colonial First State, DB RREEF, AMP, GPT Group, ISPT and a number of key private clients.

GHT was recently awarded 'Commercial Agency of the Year' by DB RREEF.

Chris Johnson, Managing Director of DTZ NSW said, 'the marriage of DTZ with GHT is seen as a crucial building block in our ambitions to create a long term sustainable market leading position in Sydney. GHT has an outstanding reputation and is the perfect, hand in glove complement for our existing platform which together will elevate DTZ into a stronger market position in one of the world's major business centres'.

The consideration for the acquisition, which will be met out of existing resources, comprises the following elements:

(a) An initial payment of $4.5 million, adjusted following completion of the acquisition to reflect the net assets of GHT at completion; and

(b) Further payments of up to $2.0 million per annum, for the next three years, based on the profits of the business of GHT following completion.

The Directors of GHT said that from a commercial leasing perspective their commitment and services would remain unchanged however the team was now in a position to offer the expertise and reach of a global property group. To service the needs of the expanding client base they needed to align themselves to a major global group with core values in harmony with that of their own. DTZ was a very clear partner of choice and GHT directors were thrilled to be on board.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>