Thursday 29 September 2016

Dublin estate agent sells up to property giant

Published 03/07/2015 | 02:30

Daphne Kaye: Business acquired by Sherry FitzGerald
Daphne Kaye: Business acquired by Sherry FitzGerald

The country's largest estate agents, Sherry FitzGerald, has moved again to acquire another key auctioneer with the purchase of the southside Dublin business of Daphne L Kaye for an undisclosed sum.

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Ms Kaye, who has been prominent in the property scene in the upmarket suburb of Foxrock over a 30-year period, sold her business to the group and considerably strengthened the Sherry FitzGerald brand in the south-east Dublin market.

Having invested wisely in the London-based Marsh and Parson's estate agency during the boom years, Sherry FitzGerald sold the much-appreciated firm for €45m after the property crash kicked in.

The cash injection cushioned it to some degree from the damages inflicted to other estate agencies.

During the downturn, the group began to buy strong independent brands around the Dublin area which have included the north Wicklow, Bray and Greystones-based Lennox Estates, and the Dublin 6-leaning Harper O'Grady Agency.

In addition, Sherry Fitzgerald poached a number of heavy-hitting players in the new homes sales market and in the high-end residential market from other agencies which had suffered or had been bought out by British firms at the peak of the boom.

Ms Kaye is joining Sherry FitzGerald as a director of the residential business.

Irish Independent

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