13 Nov 2008
David Kopp and Lee Ellis, owners of Tyson Properties Westville and two of the company's most successful franchisees, have expanded their business interests by acquiring a 50 percent stake in Tyson Upper Highway, one of the group's strategic franchises.
Chris Tyson, CEO of Tyson Properties confirmed that he and business partner Gavin Cunningham had decided to sell their share of the Upper Highway franchise in order to focus more closely on growing the Tyson Properties' franchise operation.
Despite a depressed property market, the group has proved extremely resilient and has established 10 franchises since it was launched in 2005. Tyson Properties' Amanzimtoti franchise opened this month.
Ellis, who matriculated at Kearsney College and knows the area well, will take over administration of the Tyson Upper Highway franchise exactly a year after the original office was opened in Hillcrest in November 2007, freeing partners Bjern and Penny Petzer to focus on selling properties and increasing overall market presence in the area. Penny and Bjern have already proved to be amongst the most professional and successful agents in the area.
Tyson Upper Highway will have a total of 10 experienced agents, plus a rental agent. Two of these agents will also sell commercial property in the area.
"David Kopp and Lee Ellis have been very successful principals in the greater Westville area and saw the benefits of expanding their interests within Tyson Properties more than a year ago when they established the Westville operation. They are very passionate about the Tyson Properties brand and we are very confident that they will add value to the Upper Highway franchise," said Tyson.
During its first year, Tyson Westville substantially grew its market share, making it one of the busiest estate agencies in the area. In addition, turnover has grown consistently, making it one of Tyson's most successful franchises.
As Ellis explained, the average selling price of a home in the Upper Highway area is R1,6 million with total gross rand sales in the area during the past year averaging R740 million. "Our ultimate objective at Tyson Properties Upper Highway is to gain at least a 10 percent share of the gross rand sales in the area within the forthcoming year."
The majority of sales to date have come from Kloof, Hillcrest, Gillitts, Assagay, Plantations, Waterfall and Winston Park. Ellis believes the cooler climate in the Upper Highway area appeals to both those wishing to escape the humidity of the coast and those with health problems such as asthma. The Upper Highway area also has an abundance of excellent government and private schools that cater for a wide variety of students' requirements.
"Upper Highway residents are usually distinguished by their traditional value systems and strong emphasis on families. According to recent surveys, nearly seventy percent of the local people own the homes they live in which is a good indication of their potential earning potential as well as their current financial security," he said.
He said that although the general downturn of the economy had unfortunately reduced the number of sales in the area, he was nevertheless confident that its positive attitude and professional approach would see Tyson Upper Highway become one of the top agencies in Hillcrest within the year.
"We believe in offering both our buyers and sellers a top notch service. We also believe in extensive marketing and promoting the Tyson Properties brand and values which include integrity, good communication, professional training and good market knowledge."
For more information contact 011 883 6972 / 011 884 1629 or Nicola on 082 458 0280
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