Macquarie Acquires PropertyIQ

Macquarie acquisition ups the ante as strata industry land grab heats up​

Macquarie Business Banking has now acquired 100% of PropertyIQ from Console Group as part of its strategic commitments in the the strata and property services sectors.

Wattblock previously covered Macquarie's Strata Benchmarking Results at the SCA National Convention in 2016.  The report outlines various strategic growth opportunities.

​The acquisition of PropertyIQ will result in Macquarie Business Banking now owning 100% of ADL Software, and 51% of PropertyIQ Strata. The remaining share of PropertyIQ Strata is held by its founder and principal, Steve Hogan. Macquarie will collaborate with both Steve Hogan of PropertyIQ Strata and Allan Liddle of ADL Software to support and grow these businesses.​

Head of Macquarie Business Banking, Dean Firth said the acquisition of PropertyIQ, was further evidence of Macquarie’s commitment to supporting growth and innovation for clients and the broader industry.
 
“We first invested in PropertyIQ following feedback from our strata and real estate agency clients that they wanted a technology solution to bring together all aspects of their business with integrated software, data and banking,” Mr Firth said.  “Our decision to now acquire PropertyIQ in full demonstrates the potential of the platform, and the significant opportunities we see to further support the growth and continued success of property services businesses in the future."
 
According to Mr Firth “This will further complement our full service offering to the property services industry by providing clients with greater operational efficiencies, deeper integration between their front and back office requirements and greater support in delivering an exceptional client experience.”
 
From Macquarie's 2016 Strata Benchmark Study, key opportunities in the strata industry include:

• Specialisation. Focusing on either large or small schemes.
• Efficiency. Higher median profits with lower median gross revenue.
• Administration. Enabling strata managers to focus on strengthening customer relationships.
• Value Added Services. 44% of businesses plan to add new services in the next 3 years.

According to the report, energy management will be one of the key value-add areas for strata businesses. If you're looking to provide new services for revenue growth, the key areas will be rent-roll, building management, and utilities (electricity, gas, and water).

For further reading try Strata Community Australia.  You can download the Macquarie Bank's Strata Benchmark Results 2016 Study.

Ross McIntyre
Contributor, Strata Energy News 

Strata managers can now register buildings in the City of Sydney and in Melbourne for a fully funded electric vehicle recharge assessment. Registrations for Brisbane have closed. However, if you're interested in learning more contact Scott Witheridge on (02) 9977 1801. Read more about the program here.