Barfoot & Thompson, Commercial Specialist Merge Businesses
30th September, 2013
Barfoot & Thompson Merges Commercial Business with Auckland Commercial Specialist
Barfoot & Thompson Commercial is merging its interest with long established Commercial Property Managers Ltd, to form a new entity called Barfoot and Thompson Commercial Property Management, creating one of the largest commercial property management companies in Auckland.
Barfoot & Thompson’s Commercial Manager, John Urlich, said that the two organisations have worked closely with each other for many years, and Barfoot & Thompson has long recognised the strong reputation Commercial Property Management has amongst local authorities, banks and private family trusts.
Commercial Property Managers is a specialist, independent property management company founded by Stephen Sampson more than 24 years ago and manages a handsome portfolio of commercial property on behalf of more than 60 investors in New Zealand and abroad.
Mr Urlich says the two companies share similar synergies - a relationship-driven, Kiwi owned and operated approach to business, and a mutual system of vision and values.
“Through the combination of Barfoot and Thompson’s larger resources, and Commercial Property Managers Ltd’s niche reputation, we believe the newly merged organisation will quickly become an even more influential commercial property manager in New Zealand.”
Under the merger, Mr Urlich will remain Barfoot & Thompson Commercial Manager and Commercial Property Managers existing owner and managing director, Stephen Sampson, will become Head of Asset Management of Barfoot & Thompson Commercial.
“We have grown the commercial arm of our business significantly in recent years, and expanding our asset management activities at this time is part of our long-term strategy to have a greater profile in commercial property.”
Commenting on the merger, Mr Sampson added, “with Barfoot & Thompson’s greater access to resources, expertise, services and contacts, the business can reach its full potential over coming decades as Auckland’s commercial operations expand to match its residential growth.”
Commercial Property Managers currently employs 15 people who will remain in the Company’s existing offices in Newmarket.
The new entity will become formally rebadged on October 1, 2013.