News

PRD real estate agency future in limbo

THE future of the Grafton based PRD real estate agency is uncertain after it was confirmed that Bailey and Gough Grafton has purchased PRD's rental management roll.

Bailey and Gough director Derek Morgan confirmed that most of PRD's former landlords had signed up to his agency, with the few who hadn't signed yet expected to do so in coming days.

Mr Morgan said he was first approached about buying the rent roll by an independent broker late September.

"Robbie has got other plans he wants to pursue and he wanted someone to take over his properties that was going to give his customers good service ... that was his major concern."

Although he did not want to disclose the number of rentals involved in the purchase, Mr Morgan said it was "considerable" and added to the agency's already large stable of properties.

Other sources said the roll involved more than 100 properties.

Bailey and Gough hoped to be trading out of new premises on the corner of Prince and Victoria Sts by January 1, he said.

"We've backed ourselves for growth by moving to bigger premises and this just came along," he said.

Bailey and Gough employs 15 people.

Topics:  prd nationwide



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