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Independent real estate group Coastal Property Agency has bought one of the Gold Coast’s oldest family-owned agencies, the Professionals Henderson, as part of an expansion plan announced following the breaking of a long association with the Harcourts franchise network earlier this year.
The Professionals Henderson, which was established in 1973 by the late John Henderson, is currently led by his sons Luke and Andrew Henderson who have established a firm foothold in the local market over many years from their Mermaid Beach base.
The buyout will include the entire Professionals Henderson business, comprising the rent roll and sales division.
Andrew Henderson, who is chair of the REIQ’s Gold Coast zone, says the deal was struck with Coastal with a view to “finding the best way to serve our clients and team”.
“Coastal was a natural choice due to their stellar reputation and extensive reach,” he says.
“Dane and Kym Atherton are renowned for their dynamic leadership, and we are confident our clients and team will be in excellent hands.”
The Athertons established Coastal in 2011 as a single agency at Broadbeach under the Harcourts brand, and they have grown the business to include five Gold Coast offices comprising Broadbeach, Paradise Point, Robina, Palm Beach and Coastal Commercial.
Earlier this year, the agency cuts its ties with Harcourts to become an independent agency and announced plans to grow the business further.
The changeover will take effect from 2 September 2024 which will see the familiar Henderson name at Mermaid Beach make way for the Coastal Property Agents brand.
“I have immense respect and admiration for how the Henderson family has conducted their business,” says Dane Atherton, the Coastal CEO.
“Their community focus aligns with our values, and we are committed to providing our new clients and team with the same level of professionalism they have come to expect.”
The acquisition of Professionals Henderson follows a record-breaking sales performance by Coastal in February this year which topped $220 million in residential properties.
Atherton, who announced the sales record in tandem with the launch of the independent Coastal brand, revealed at the time that Coastal was on the verge of opening a sixth office on the Gold Coast later in the year.
Coastal Property Agents says its break from the Harcourts franchise network came on the back of its recognition as the group’s top agency for two consecutive years, with transaction volumes of more than $2 billion annually and a rent roll comprising 1,600 properties.
Coastal says it is now considered one of Australia’s largest independent real estate groups with a database of 965,000 past and current clients.
“We are excited about the new chapter and will continue to support our clients under the Coastal brand,” says Luke Henderson.
“It has been an emotional decision given the legacy we’ve built, but we are thrilled with the merger.”
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