Century 21 Australia boss Charles Tarbey to buy Century 21 New Zealand

Century 21 Australia chairman and owner Charles Tarbey is set to buy Century 21 New Zealand.

Tarbey has reached a heads of agreement to acquire the business from owners Bill Sinclair and Murray Cleland for an undisclosed sum.

The New Zealand business comprises 50 offices and 120 staff.

Two months ago Tarbey acquired the rent rolls of ASX-listed property management group Wentworth Holdings for $18.7 million, making Century 21 the biggest privately owned real estate group in the property management space. 

Tarbey is believed to be eying up further acquisitions.

Century 21 New Zealand will share the technology, education programs and events rolled out by the Australian business.

“This purchase, and closer partnership with Century 21 Australia, will deliver a number of efficiencies and value ­additions to both businesses,” says Tarbey.

Tarbey set up the Australian-owned arm of the worldwide network in July 1994.

It currently has more than 300 franchised offices in Australia.

Century 21 operates one of the largest real estate networks in the Asia-Pacific region, with more than 3,000 offices.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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