Real estate group CBRE seals Burgess Rawson buy as family office buying takes off

Commercial real estate player CBRE is tapping into the most active end of the market by purchasing a long-time rival.

Burgess Rawson portfolio auctions are among the most popular events on the commercial property calendar.

The country’s largest commercial real estate agency CBRE has inked a deal to acquire national real estate agency Burgess Rawson to boost its presence in the popular small-scale auctions market.

The small end of the property market is expected to kick further this year as interest rates come down, which is expected to drive more yield-driven buyers into the market as they seek alternatives to bank deposits.

Burgess Rawson has built up a strong name in running national portfolio events and the real estate it sells has remained in hot demand even as larger commercial assets, particularly offices, have become tougher to sell.

The agency specialises in selling convenience retail and fast food stores, early education centres, and lower-grade retail, medical, and industrial properties.

The Australian flagged the move last October.

The tie-up will boost CBRE’s presence in the private and high-net-worth commercial property investor market, as family offices grow their presence in the market.

The firm focuses on commercial property assets and development sites valued at up to $35m.

Burgess Rawson has more than 80 professionals and is renowned for its national portfolio campaigns and access to active private investors.

The CBRE Metropolitan Investments team will be led by Burgess Rawson chief executive Ingrid Filmer.

CBRE Advisory Services CEO, Australia & New Zealand, Phil Rowland, said the acquisition aligned with the company’s strategy to best serve clients in the increasingly sophisticated private and high-net-worth investor market.

“It will enable us to diversify into new asset types and markets, access strong leadership and broker talent, and enhance our market position in what is a fragmented part of the investment sector,” he said,

Ms Filmer said that Burgess Rawson had spent five decades building deep trust with private investors and establishing a market-leading national platform. She said that joining CBRE would connect clients to international capital, world-class research, and broader market opportunities.

The acquisition did not include the Burgess Rawson operation in WA and ACT, which are independently owned.

Originally published as Real estate group CBRE seals Burgess Rawson buy as family office buying takes off