Two of the country’s most respected newspapers, The Australian Financial Review and The Sydney Morning Herald (SMH) have come together to jointly promote the Commercial Real Estate (CRE) Auction Centre.
The Auction Centre was first launched by the SMH early last year. In 2011, 263 commercial properties were listed for auction through the centre at a value of over $250,000 million (disclosed figures).
Nic Cola, CEO of Fairfax Marketplaces said,
“The Auction Centre’s first year of operation was highly successful. The partnership that has been formed with the Financial Review will help this centre gain an even greater presence within the commercial real estate industry. It will also add another level of credibility as a direct result of the Financial Review’s reputation and expertise within the business and property community.”
“This year we want to position the Auction Centre as the place in Sydney to conduct commercial real estate transactions.”
“We are looking forward to continuing to bring all of Fairfax’s commercial real estate assets together including newspapers, online and the Auction Centre to provide enhanced opportunities for our clients. This is a unique proposition for the market within the commercial space,” he added.
Given the SMH and AFR are the main print publications for commercial real estate in Sydney this move showcases the reach and marketing strength of the Fairfax network. It will be interesting to see whether there will be any further cross marketing or even consolidation between the SMH and AFR brands.