Property valuations team expansion lays foundations for second phase of growth strategy

Continued expansion into the commercial, industrial and retail property services sector has seen leading real estate agency Bayleys appoint a director to its Auckland-based valuations team.

Highly experienced valuations practitioner John Darroch has been appointed director of Bayleys Valuations Ltd in Auckland. Darroch has been in the property valuations industry since the mid-1980s when he joined the company of the same name founded by his father. Most recently, he has been the Auckland area manager within a division of QV Group – heading up a staff of 25 valuers at three regional offices.

John Darroch specialises in larger asset valuation projects, dispute resolutions, and rental arbitrations - all under a business development umbrella. A number of further additions to the newly created valuations division at Bayleys in Auckland are expected to be made in the final quarter of this year.

Bayleys Real Estate managing director Mike Bayley said the addition of John Darroch to the company was another step in the expansion of Bayleys’ professional and ‘non-sales’ services. Darroch will work in conjunction with Bayleys’ existing Auckland-based valuer, Allen Beagley, who specialises in hospitality and tourism property asset valuations throughout New Zealand and in the Pacific Islands.

“John’s expertise and reputation throughout Auckland have set a solid platform for the division to grow quickly. His activities will be supported not only by referrals through the wider Bayleys commercial sales network, but also as a stand-alone operation able to serve a diverse clientele ranging from small property asset owners through top large listed corporations,” Mike Bayley said.

“With the market fluctuating so much over the past few years, property owners, and managers are constantly seeking updated and current data with which to make their decisions – whether to present for refinancing, to sell, to buy, to lease, or for balance sheet calculations.

“We have seen extraordinary growth in the demand for real estate valuation and advisory services since launching the group in Wellington last year. With the commercial and industrial property cycle now well on an upward path, expanding our capacity in Auckland at this point positions the company well to capitalise on the opportunities arising as that recovery gathers momentum.”

Last year, Bayleys launched its valuations team in Wellington – appointing former CBRE valuers and taxation specialists John Freeman and Paul Butchers, with Chris Orchard and Steve McColl joining soon after. The capital’s division has quickly established itself in the marketplace, being appointed to several large private and state asset valuation projects.