Jagonal for sale after office leasing website goes into administration

Jagonal for sale after office leasing website goes into administration
Jagonal for sale after office leasing website goes into administration

The independent real estate portal Jagonal is for sale after the office leasing website was placed in administration.

Administrators from McGrath Nicol were appointed to Jagonal on November 7 after investors in the three-year-old start-up not to inject more cash for the struggling website.

Final bids for the business close today.

"We've spoken with the administrators and put our hands in the ring for some of the assets," Simon Rose, chief executive of CommercialPropertyGuide.com.au, told the Australian Financial Review.

Jagonal was set up by REA Group alumni Serge Kotlyarov, Andrew Brown and Max Sim in September 2013.

It was backed by a group of investors including founding shareholder Godfrey Franz, a director of Sydney-based Matrix Property Group.

The portal offers leased space across 4500 office buildings and includes a patented 3D office space search. 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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