Leading Australian valuation and property services company WBP Property Group this morning announced its acquisition of Adelaide-based Mason Gray Strange Real Estate Valuations (MGS).

According to WBP Chief Executive Greville Pabst, the move forms part of the company’s strategy to diversify its services and expand its national footprint. “WBP has undergone consistent growth over recent years and continues its strategic expansion and diversification through selective acquisitions such as MGS Real Estate Valuations,” says Pabst.

Pabst claims that the Australian valuation industry is rapidly evolving, with the future set to see only a handful of national valuation groups in operation. “At WBP we have embraced the changing face of the valuation and property industries in Australia and identified early opportunities to expand and develop our business in the valuation and property advice space.”

Already well-established in South Australia, WBP’s acquisition of MGS will further strengthen its position in the Adelaide market. Under the arrangement MGS Valuers will commence trading as WBP Property Group from January 1st 2012.

Established in 1981, MGS Real Estate Valuations is one of Adelaide’s most well-known valuation groups, holding Accredited Panel Valuer status on the panels of many of Australia’s largest and highly regarded banking institutions as well as public and private business corporations.

Welcoming an experienced team of valuers and expanded capabilities to its existing staff WBP will offer specialist valuations for hotel and leisure properties, as well as rent roll and other specialty purposes, in addition to existing residential and commercial valuations services.

MGS Director Chris Wakeham will continue to manage the business locally alongside WBP State Manager for South Australia Bart Quinn. Mr. Wakeham stated that, “the acquisition will mean business as usual for MGS’s existing clients, but importantly, greater service, capabilities and complimentary property services offered through WBP’s national network of branch office.”

The acquisition of MGS follows WBP Property Group’s recent alliance in Queensland with leading property valuation firm Herriots.

About WBP Property Group

Multi-award winning WBP Property Group is an independently owned and operated national valuation and property services company. WBP conducts more than 70,000 property valuations per annum and offers a complete range of valuation and property services through its branch offices in Victoria, South Australia, Tasmania, New South Wales, Queensland and Western Australia.

Established in 1992, WBP is built on a solid foundation of extensive market knowledge, superior customer service and industry-leading technology and has a reputation for providing clients with objective and impartial valuation services.

WBP’s Executive Management team is highly experienced and responsive to industry and economic trends and needs.

About the team

WBP State Manager (SA) Bart Quinn and Branch Director (SA) Chris Wakeham are Certified Practising Valuers and members of the Australian Property Institute with more than 25 years’ combined experience in property valuations. Complemented by a team of qualified staff, WBP Property Group’s Adelaide operation will continue to provide professional valuation and property services to existing and new clients.