RAY White Surfers Paradise Group (RWSP) has sold its Upper Coomera office to one of its senior team leaders after building the business into one of the largest real estate offices in the northern Gold Coast over the past eight years.
Ray White Upper Coomera has been bought by Peter Catanzariti, who joined RWSP just four years ago and has driven expansion of the Coomera business under the mentorship of RWSP founders Andrew and Greg Bell.
The Bells bought the Upper Coomera office in 2010, at a time when the Coomera area was only just starting to experience strong buyer demand.
It is now a key real estate operation in the broader northern Gold Coast region which is poised for a renewed boost once Westfield completes construction of the Coomera Town Centre later this year.
The Upper Coomera office, located at Coomera City Centre on the corner of Days Road and Old Coach Road, recently doubled its office space and is increasing staff numbers to cater for rising business volumes.
“We have loved every minute of growing and developing that small office to become the leading office in the Upper Coomera area and with the rights to expand into other surrounding suburbs,” said Andrew Bell, the CEO of RWSP.
“Part of that fabulous journey was working with Peter Catanzariti who joined our leadership team some four years ago. He played an instrumental part in growing and developing the business.”
“In helping Peter grow and develop as a great leader in the real estate industry, Greg and I became very fond of him and also became aware of his ambitions to one day own his own office.”
“As part of our Leadership Development Program we were then faced with a testing situation as to what was best for that Upper Coomera office. It most definitely was for Peter to remain on as its leader, and the best way for that to happen was to allow him to achieve his career ambition of owning his own office.
“It became a very easy decision for us to allow a transition of the Upper Coomera office into Peter’s ownership.”
Mr Catanzariti, who took control of the office on July 31, said he was humbled by the faith shown in him by the RWSP founders.
“Andrew and Greg are exceptionally supportive of their staff at all levels, so it’s a great honour for me to have been entrusted with continuing to grow this business,” Mr Catanzariti said.
“It’s an exciting time to be in the industry, particularly in Coomera area which is among the fastest growing in Australia.”
The Ray White Surfers Paradise Group is wrapping up July on $100 million in sales, reporting record figures for the company, in what is traditionally a quieter time of year, which is further endorsement of the strategies and staff training that is in place.
Mr Bell said the sale of the Upper Coomera office would allow more time to concentrate on the remaining parts of the Ray White Surfers Paradise Group.
“We have recently consolidated our central housing and apartments market into an expanded head office in Surfers Paradise, so this allows our existing team to concentrate on our traditional core markets,” he said.
RWSP has leased additional space on the third floor of 50 Cavill Avenue, the Gold Coast’s premier office tower, in preparation for an expected 40 per cent increase in its sales force by the end of the year.
Mr Bell said RWSP had experienced strong growth across its portfolio in the past year, including its project marketing division which has been entrusted with the marketing of the $1.2 billion Spirit tower taking shape on the Surfers Paradise foreshore.
Mr Bell said rising commercial sales activity has combined with continued strength in the residential market to drive growth and market share for the group.
He attributes much of this to RWSP’s continued focus on enhancing the professional and personal skills of staff across the group.
“Greg and I have always seen ourselves as developers of people and we have been thrilled over the years to have brought into the industry and to have grown and developed some of the nation’s best performing real estate agents and, likewise, to have grown and developed leaders of businesses,” he said.
“From our time in Sydney and here on the Gold Coast there are many very satisfying examples of people who learnt their trade under our guidance and have gone on to be wonderful custodians of our industry.
“We look forward to continuing to work with our current wonderful staff to grow and develop each and every one of those in their career ambitions.”
Mr Bell said the sale of Ray White Upper Coomera to Mr Catanzariti epitomised the strength of the group’s leadership program.
“With an ever-changing industry there are fewer and fewer people looking to take up leadership positions and so it is wonderful for the Ray White Group to have secured Peter’s outstanding leadership into the future,” he said.
“We will continue to work closely with Peter to ensure that the Upper Coomera office goes from strength to strength.”