The acquisition strengthens BresicWhitney's footprint in a number of tightly held, strategically significant suburbs – including Woollahra, Paddington, Potts Point, Elizabeth Bay, Bellevue Hill, Bondi and across the broader Eastern Suburbs.
In addition to a focused geographical expansion – in line with the group’s vision - the acquisition will grow BresicWhitney’s projected sales volumes over time, to more than $3 billion annually ($2.5 billion in 2024) and see its management portfolio exceed more than 5,000 properties (currently over 3,000 managements). This will cement BresicWhitney as an organisation that creates meaningful opportunities for its people and its clients.
“This is more than an acquisition. It’s a milestone in our 20-year history and our legacy, while signifying our clear focus and long-term vision as Sydney’s leading property group,” said BresicWhitney CEO Thomas McGlynn.
“It’s a move that represents the coming together of two like-minded, high-performing businesses. It strengthens the unique BresicWhitney points of difference, expands our capability and market leadership, and drives forward key ambitions that have, and continue to, underpin our strategic vision.”
A number of colleagues across sales and property management will join the business as a result of the purchase. Randall Kemp - one of the Eastern Suburbs’ most experienced and well-regarded agents – is among them, joining BresicWhitney as a shareholder.
Mr Kemp’s track record over the past 23 years includes a number of luxury property sales that have recalibrated local suburb pricing records across Woollahra, Paddington, Bellevue Hill and more. These include 21 Jersey Road Woollahra, the famed ‘Orama’ residence; and 52 Victoria Street Paddington, the iconic ‘Bonython’ commercial property owned by advertising legend John Singleton, for a suburb record of $33,000,000. More recent prestige sales include 9 Wallaroy Road, Woollahra ($19,650,000), 66 Paddington Street Paddington, 56 Paddington Street Paddington, and 5 Bulkara Road, Bellevue Hill.
Mr. McGlynn said he was delighted to welcome Mr. Kemp to BresicWhitney’s ownership group. “We have a deep respect for the success that Randall and the team have achieved over the last 17 years. TWG’s track record and strong community connections are testament to their values and ambition – qualities that we also share at BresicWhitney.”
Mr. Kemp’s appointment as a shareholder will complement the diverse expertise in BresicWhitney’s current ownership group. It also serves as an endorsement of BresicWhitney’s value proposition for its people. “We are incredibly proud of the BresicWhitney journey, the culture we nurture and the values that guide us. It’s a privilege to welcome Randall and the team to BresicWhitney, and build on the trust and shared belief, that anchor this decision,” Mr. McGlynn concluded.
To Randall Kemp, the acquisition represents the ambition he and the team share to lead the local landscape, the desirability of the BresicWhitney brand, and the strength and presence of its wider team across the fellow lifestyle markets.
“This is a new beginning. One that’s grounded in respect for our past and what I have had the fortune of building, but with a clear vision for the future, that delivers more opportunity for us all,” Mr. Kemp said.
“In many ways, the move reflects what matters most to us: excellence in all that we do, positive results for our clients and our communities, a desirable brand, and a great team that knows the power of collaboration. On behalf of the team, we’re delighted to formally be part of BresicWhitney, and further its legacy and expansion across the lifestyle markets.”
The transition is scheduled for completion by July 2025.
