Global real estate giant Savills is joining forces in New Zealand with Auckland's biggest real estate company Barfoot & Thompson.

From 1 August 2008, Barfoot & Thompson will become an independent associate of the Savills group worldwide, giving Barfoot & Thompson clients preferential access to Savills' international network of more than 200 offices and associates throughout Australia, the United Kingdom and Ireland, United States, Europe, Asia, Africa and the Middle East.

Barfoot & Thompson have 65 branches within New Zealand, and employ nearly 1,800 staff.

Savills is a leading global real estate provider, listed on the London Stock Exchange. It has strength in all facets of property.

Savills Executive Chairman, Mr Paul McLean, said "Having a strong New Zealand partner is important to our business, and strengthens our Asia-Pacific framework.

"We have investors from Australia, Asia and across the globe seeking quality property opportunities and interest in New Zealand is increasing.

"For Australian investors in particular, easy access to the New Zealand market is attractive. Our property laws are comparable, documentation requirements are similar, and transaction costs are lower because there is no stamp duty. Also, New Zealand is the first developed country to have signed a ‘free-trade agreement' with China, one of Savills' strongest growth markets."

Barfoot & Thompson Managing Director, Mr Peter Thompson today welcomed this important new association. "We're delighted that Savills has chosen Barfoot & Thompson as its exclusive real estate partner in New Zealand. Our clients will benefit from an unbeatable combination of local real estate knowledge and experience, coupled with global access and expertise."

Mr Thompson concluded, "We look forward to helping Savills' clients identify opportunities across New Zealand, and know that our own clients will welcome the opportunity to work with such an established name, not only in Australia, but globally."

CONTACT INFORMATION
Paul McLean
+61 7 3002 8808