The expansion of the Raine & Horne Rural brand has shifted into overdrive with the decision by a well-known Parkes family business to link with the 135-year-old global Superbrand.
In a significant coup for Raine & Horne, Geoff and Renee Rice, the co-owners of renowned livestock auction and property firm, Langlands Hanlon have today rebadged their real estate division as Raine & Horne Parkes. Mr and Mrs Rice are licensed real estate agents and auctioneers.
The hugely successful livestock sales business will continue under the banner of Langlands Hanlon that has operated in Parkes since the 1930s.
“For 80 years, our business has been a leader for livestock sales, but in recent times our clients wanted us to sell their acreages, as well as properties in town for them,” said Mr Rice, who assumed the reins at Langlands Hanlon in 2005. The firm diversified into real estate sales in 2012.
“We decided we need the backing of a major corporate such as Raine & Horne who can give us industry best processes, procedures and training.”
Now offering sales and property management services
While Raine & Horne Parkes will launch with an existing sales operation, the property management business is a new venture, notes Mrs Rice.
“Raine & Horne puts a strong focus on property management,” Mrs Rice says, “and given we are starting our rent roll from scratch, this emphasis appeals to us.
“That said, we’re not messing around, and already we have 60 investment properties that we’ll be managing, with others about to come on board.”
The Raine & Horne Parkes principals said that they were impressed with Raine & Horne management’s passion for regional and rural Australia.
Mrs Rice explains, “When we visited Raine & Horne’s corporate office in Sydney, we met with Angus Raine, Executive Chairman and got a perfect sense about him and his passion for the region we serve. We have livestock clients stretching from Brewarrina in north-western NSW, south to Young.
“We are excited about the opportunity to collaborate with other offices in the Raine & Horne network to help build the reach of the Raine & Horne Rural brand.”
Marketing acreages and investment properties in Parkes
While selling acreages will be a focus for Raine & Horne Parkes, Mrs Rice says the investment market in Parkes is ticking over consistently.
“The investor enquiries come either from Sydney buyers or local farmers seeking a property they can eventually downsize into, once they decide to retire,” Mrs Rice explains.
“The sweet spot for investors is $300,000, which buys a very pleasant three-bedroom house in Parkes. Gross investment yields are around 5%, which compares very favourably against rental returns in Sydney.”
Parkes’s vibrant and diverse economy is driving the local property market
Apart from being a backdrop to the brilliant Working Dog movie the Dish, savvy investors understand Parkes is one of NSW’s most strategic transport hubs, according to Mr Rice, who is also the president of the Parkes Chamber of Commerce.
Parkes is strategically placed at the intersection of the Newell Highway connecting Brisbane and Melbourne. The transport and logistics hub is also a major stop for the transcontinental railway linking the eastern seaboard to Perth. Australia’s largest rail freight operator, Pacific National, has also committed an initial $35 million to the development of the Parkes Logistics Terminal.
Moreover, the Parkes Shire generates Gross Regional Product (GRP) of around $1.0 billion annually[i] and achieves yearly economic growth of about 2.3%. While the mining industry is a vital driver of the local economy and the property market, the logistics and warehousing sector is a major employer, along with retail trade and healthcare.
“Parkes is far from being a one-trick economic pony, and with it’s thriving and diverse economy, it’s an absolutely great place to sell real estate,” says Mr Rice.
Raine & Horne Parkes is located prominently at 242 Clarinda Street, Parkes, the transport hub’s main retail strip.
For all your sales and property management needs in Parkes and the surrounding region, call Raine & Horne Parkes on 02 6862 3222.