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Harcourts takes over management of Bluechip properties

Harcourts has taken over management of a significant proportion of the properties formerly under the control of beleagued investment group Bluechip.

Wednesday, January 23rd 2008, 12:00AM

by The Landlord

Bribanc Property Group, a subsidiary of Blue Chip’s Master Franchisee in New Zealand, has sub-contracted the property management of a "significant proportion" of Bribanc’s residential property management portfolio.

Harcourts chief executive Bryan Thomson says that “under the agreement a number of Harcourts business owners have sub-contracted to manage Bribanc’s greater Auckland residential property management portfolio. The changeover has already commenced with the management of a number of properties included in the contract already transferred to Harcourts and the balance to be transferred shortly.”


Bribanc is contacting the tenants and owners of the properties covered under the new sub-contracts to advise them of the changeover, subsequently tenants will receive relevant information from Harcourts.

The chief executive of Blue Chip’s Master Franchisee in New Zealand (Diem Limited), Neil Bell, says “Harcourts is an established and reputable company with a proven track record in property management and we are delighted to be able to employ their services for the benefit of our clients. We have the utmost confidence that Harcourts has the experience, the people and the systems necessary to effectively manage the properties covered.”

“We made the decision to outsource the lion’s share of our property management function to Harcourts to enable us to focus on our core business, further assisting us to develop wealth and ongoing value for our investors”, he added.
Bluechip has attracted significant public attention recently as many of its investors had not received rent payments since November and many could get no response from Blue Chip or Bribanc.
« Property investors refocus on cash flowRingfencing property losses on agenda again »

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