Two inner-Melbourne independent institutions join forces
There are interesting times ahead for the inner-Melbourne real estate landscape as two of the sector’s strongest independent agencies merge.
In a bold move designed to expand their substantial market shares across the highly competitive central Melbourne marketplace, Dingle Partners and Caine Real Estate inked a deal in early July that sees the two organisations join forces.
The merger establishes a real estate services group that now boasts offices in the CBD, St Kilda Rd, Southbank, Carlton, Collingwood and Richmond.
The merger coincides with a year in which Dingle Partners celebrates its 50 years of operations, and Caine Real Estate marks 25 years of successful operations in the industry, demonstrating the significant legacy and longevity of the two firms.
Jacob Caine, who previously helmed Caine Real Estate, has been appointed Group Chief Executive Officer.
In a letter to the group’s clients, Mr Caine has been charged with marshalling the organisation as it seeks to “cement its position as the dominant force in inner-Melbourne real estate”.
Mr Caine, a current director of the Real Estate Institute of Victoria, is a graduate of Melbourne University, Monash University Business School and Harvard University.
He served on the board of realestateview.com.au for more than three years, where it is understood he played a pivotal role in the recruitment of current CEO Toby Balazs from realestate.com.au and was involved in the realisation of a joint venture between Antony Catalano’s Australian Community Media and the realestateview.com.au business.
Respective founders Malcolm Dingle (Dingle Partners – 1973) and Paul Caine (Caine Real Estate – 1997) will continue as directors of the organisation focusing more of their attention on its extensive list of high-value clients.
The amalgamation of the two organisations creates an organisation with a formidable property management and sales business with incredibly strong market share and profile across Melbourne’s inner ring, and will present a challenge for smaller agencies competing with the newly-merged firm’s host of experienced and award winning consultants. •