Propertyfinder Parent Purchases Australian Commercial Portal Site PropertyLook
Last week, www.realestate.com.au, the 50% owner of www.propertyfinder.com, announced that it had finalised agreements to purchase the Australian commercial website www.propertylook.com.au for $9.05 million.
Property Look Pty Ltd operates www.propertylook.com.au, a commercial property website site. During March, propertylook.com.au had 60,601 visitors viewing 2,400 listings from 175 agents across Australia and New Zealand. The main advertisers include Australia’s four largest commercial agents – CB Richard Ellis, Colliers International, Jones Lang LaSalle and Knight Frank.
Over the next six months, www.propertylook.com.au will be merged with realcommercial.com.au, realestate.com.au Ltd’s commercial property website. realcommercial.com.au has been Australia’s largest commercial property website since launch in 2002 and during March this year attracted 142,131 visitors viewing 42,000 listings from over 600 commercial agents and business brokers.
The combination of the two commercial sites clearly positions realcommercial.com.au as the leader in online advertising of commercial property in Australia and provides an entry point into the New Zealand market. It is expected that traffic to the combined site will increase to around 180,000 unique visitors per month.
The combined site provides all visitors with a comprehensive view of the market. While other commercial real estate site focus on the small to medium commercial properties, www.realcommercial.com.au will provide the user with access to properties from the corner shop to large city buildings.
Over the next six months we will upgrade the existing www.realcommercial.com.au website to include the best features of propertylook.com.au and realcommercial.com.au. In the mean time, both sites will operate in parallel with clear linkages between them.
We believe that the combined operations will provide agents, their vendors, and their landlords with the most cost effective way to advertise to Australia’s largest and most qualified online commercial property audience. We are extremely pleased to have Australia’s four largest commercial real estate companies and all of the Property Look members as customers of realcommercial.com.au.
