PHOTO: SIMON O’CONNOR/STUFF Farmlands has sold its real estate business to Property Brokers and struck a long-term strategic partnership.
The country’s largest farmer-owned co-operative Farmlands has sold its real estate business to Property Brokers with aspirations to build on their combined 20 per cent of the rural property market.
With settlement confirmed on Thursday, “Property Brokers now owns and manages the day-to-day real estate business created from the agreement,” the two companies said in a statement. The price paid is not being revealed.
“Farmlands Co-operative will continue to support real estate through its extensive network, events, customer loyalty programme and shareholder discounts.”
Farmlands said through the long term strategic partnership, it would retain its investment in real estate and would receive a commission on future sales.
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