Belle Property Neutral Bay co-principals buy out partner Tim Foote

Belle Property Neutral Bay's co-principals Matthew Smythe and Mark Jackson have bought out their partner, Sydney lower north shore luxury agent Tim Foote.

Foote will remain the principal of Belle Property Mosman, according to the Australian Financial Review.

The move will enable each agency to focus on small sub-areas and grow faster.

"Matt and Mark have demonstrated great leadership at Neutral Bay and it's a natural progression for them to take complete ownership of the business," Foote said.

Smythe said "we are in enthusiastic agreement about this change and we look forward to a long future working together, as sister offices serving the Lower North Shore to generate the best results for our clients."

Belle Property Neutral Bay will continue to service suburbs including Neutral Bay, Cremorne, Cammeray, Crows Nest, North Sydney and Kirriblli.