Acquisition grows GQ Property Brand

Posted by Jon Quayle — October 22, 2006

Prestige boutique property specialist GQ Property of Mooloolaba will invest more than $1 million over the next 12 months as part of its takeover of Property Mooloolaba on Queensland’s Sunshine Coast. GQ Property Sales Director, Simon Guilfoyle, said today due diligence had been completed for the purchase of Property Mooloolaba, including accommodation letting business Accom Mooloolaba, and the formal transfer of ownership would be in October 2006. Mr Guilfoyle returned from Dubai, where he was developing a strategic partnership targeting expatriate property investors, to complete negotiations for the buyout. “The expansion of GQ Property through the purchase of Property Mooloolaba is an excellent fit for our business and further enhances our brand as a major player in the prestige marketplace with combined property sales of more than $100 million over the past 18 months,” Mr Guilfoyle said. “The acquisition offers further marketing penetration nationally and offshore, particularly for prestige properties in locations such as Mooloolaba, Minyama, Alexandra Headland and Maroochydore’s Duporth Avenue.” Mr Guilfoyle said operating as an independent boutique agency ensured client services would remain a high priority with a strong focus on protecting yields and capital gain growth. “GQ Property clients also receive personalised service from a team with over 35 years of experience in residential real estate, commercial property and project management,” Mr Guilfoyle said. “We are committed to growing the GQ Property brand as a leader in the prestige property market that delivers outstanding results.” GQ Property’s value adding services include an in-house interior design consultancy to assist with refurbishment projects. GQ’s holiday and rentals business was established in January 2006 and is performing well above expectations. The acquisition would boost holiday and permanent letting stock to around 250 units and apartments that included up to 20% of the letting pool in luxury accommodation available at Zanzibar and Sirocco resorts on the Mooloolaba Esplanade and it is growing daily. Mr Guilfoyle said a recent sale in Zanzibar represented a capital gain of 25% in 3.5 years, with a second apartment in the development achieving a 34% capital gain in three years. The sale of 5 Jedda on The Spit at Mooloolaba for $1.25 million was a record sale for that building. The sale of a luxury apartment in Pavillions on Hamilton Island for $3,090,000 achieved a capital appreciation of 107% in 2.5 years. “GQ Property has a track record of success that is set to continue with the acquisition of Property Mooloolaba,” Mr Guilfoyle said. About GQ PropertyGQ Property was established by Valerie Guilfoyle and husband Simon Guilfoyle. Together their inspiration and dedication created a unique boutique real estate firm which today has a loyal team working along side them. Listed in the Who's Who in Luxury Real Estate, the GQ Property team has sold over $60,000,000 of prestige properties in the past 18 months, repeatedly breaking site records for many luxury resort buildings and houses in Mooloolaba, Alexandra Headland and Central Maroochydore. This comes from a passionate and enthusiastic sales team along with a combined 35 years experience in residential, project marketing and commercial sales and leasing. In 2006, Valerie and Simon Guilfoyle had a strategic vision for Mooloolaba and the Sunshine Coast and formed a partnership with Dave and Roberta Edwards to create a personalised service for Holiday Accommodation and Permanent Rental properties. This partnership has been very successful and GQ Holidays is experiencing enormous growth in only its first few months of operation. GQ Property specialises in exclusive properties - Beach Front - River Front - Ocean Front - Water Front - on the Sunshine Coast, however this year the horizon broadened when Simon Guilfoyle ventured internationally and formed relationships with development companies and Australian expatriates living in Dubai. This international network marketing program is two-way with many expatriates returning home to live and to holiday whilst allowing Australians the opportunity to diversify into the booming Dubai market. “Setting ourselves apart through our innovative marketing ideas for win/win results, GQ Property’s approach is ‘result’ driven. We understand and focus on the needs and motivations of investors and residents alike. We have set high standards of honesty and trust, delivering the utmost level of professional service and developing long lasting relationships whilst ensuring we reach and surpass all your expectations.”

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