WBP adds South Australian valuer MGS to growing stable

Consolidation in the property valuation space has continued, with WBP Property Group acquiring Adelaide-based Mason Gray Strange Real Estate Valuations (MGS).

The acquisition follows WBP forming an alliance with Queensland-based firm Herriots earlier this month.

Pabst says the MGS acquisition is part of the company’s strategy to diversify its services and expand its national footprint.

He says that the Australian valuation industry is rapidly evolving and estimates only a handful of national valuation groups will be in operation in the future.

“At WBP we have embraced the changing face of the valuation and property industries in Australia and identified early opportunities to expand and develop our business in the valuation and property advice space,” he says.

The MGS acquisition will strengthen WBP’s position in the Adelaide market.

Under the arrangement MGS Valuers will commence trading as WBP Property Group from January 1st 2012.

MGS director Chris Wakeham will continue to manage the business locally alongside WBP state manager for South Australia Bart Quinn.