Knight Frank and Bayleys completed the acquisition of McGrath.

Knight Frank, a commercial real estate agency, and Bayleys, a locally owned real estate company, completed the acquisition of McGrath, an Australian residential real estate group. Financial terms were not disclosed. “We are delighted to be joining forces with two of the greatest real estate brands in the world. Knight Frank is the most prestigious residential agency globally and provides us and our customers with instant access to the best global network and the most sophisticated international buyers in the world. Direct access to international buyers, especially high net worth residential buyers, is fast becoming a must-have if you want to compete in the premium end of the market. And over 50,000 Australians and Kiwis swap addresses across the ditch each year and they all need access to great property so one shouldn’t underestimate the value of having NZ’s leading real estate company, Bayleys, as our partner," John McGrath, McGrath Founder and CEO.