New Zealand Sotheby's International Realty Acquires Milne & Co

DATE 25th Nov 2015

Leading real estate agency New Zealand Sotheby’s International Realty (NZSIR) is strengthening its position in Auckland with the acquisition of top property company Milne & Co. 

The acquisition of Milne & Co, one of Auckland’s most respected real estate brands and founded by well-known agent Pene Milne, is part of NZSIR’s strategic plan for expansion into the Auckland property market.

The move is a reflection of the mutual respect that the two brands have for each other, NZSIR managing director Mark Harris says.

“We recognised the opportunity of aligning our global brand with that of a highly respected and recognised name in Auckland. By combining the unique attributes of the Sotheby's International Realty brand and the local experience and credibility of Pene Milne, we will create a very strong team in this key area of the market,” he says.

“It means that there is now an outstanding alternative for vendors who want to achieve a premium sale price and personal approach to marketing their property. No other brand in New Zealand can expose property into the same unique channels as NZSIR can, locally or internationally, and when you combine that with the experience and knowledge of a high calibre licensee like Pene then the results are outstanding.

“Pene brings years of recognition in the premium end of the Auckland residential real estate market. She is regarded as a results-oriented professional who is dedicated to achieving outstanding sales for her vendors,” Harris adds.

Milne – who has been in the real estate industry since 2001 – says she hadn’t planned to sell Milne & Co, and the decision did not come lightly.

“Ultimately, the alliance with NZSIR is about a focus on our clients who continue to strive for quality and local and global reach across the markets. NZSIR provides this ultimate platform in NZ and Auckland, and conducts business in a highly professional and respected way. The passion for working with and for my clients remains the top priority. Mark, Julian and I saw the common ground and the future of building bigger success for our clients.”

NZSIR’s licensees and administrator will shift from NZSIR’s Herne Bay offices to the larger Milne & Co space nearby. The Milne & Co premises will be rebranded as NZSIR by November 30, 2015.