LJ Hooker has returned to greater western Sydney with the opening of a new office at Parramatta.
Iftikhar Rana will head up the new agency, after rebranding his established real estate business. Prominently located on the corner of Church Street and Victoria Rd, it will offer a full suite of services including both residential and commercial sales, plus property management.
General Manager Network Australia Stephen Mutton welcomed the new office directors to the pivotal Parramatta market. He congratulated Mr Rana and his team on making the transition, saying their expertise in the local market, backed by network support, will kick-start a new era for LJ Hooker in Sydney’s vibrant west.
“We are thrilled to return to the Parramatta residential sales market after an extended absence – strategically it is important to our brand and with so much development underway in the region, it is also a very exciting market,” Mr Mutton said.
“Iftikhar and his team know this market better than anyone and we are delighted to welcome them to the LJ Hooker family.”
Mr Rana, a former banker and property developer, opened his own real estate office as an independent in Parramatta back in 2002 before signing on with Century 21.
“I was very interested in LJ Hooker but the area wasn’t available in Parramatta and I wanted to stay here,” Mr Rana said.
“When we recently heard that there was an opportunity to rebrand with LJ Hooker, we felt it was the right move for us.
“We were performing well but looking for a change and it has been a decision that has re-energised the business.
“We believe that LJ Hooker will take us to the next level as it has a wide appeal to the local market. It is also a well-known brand that people trust with their most valuable asset.”
Mr Rana is joined by his family in the business including his son, Aurangzeb, who leads the sales team. The team also includes admin staff, dedicated sales staff and a property manager.
Parramatta’s median house price is $1.4 million, while the median apartment price is $600K. The suburb also remains popular with investors with a vacancy rate of 2.69% and an average weekly rent of $500.
“Parramatta has become a dynamic city and the upcoming projects such as the new light rail will add to its appeal – you only have to see the skyline to realise how much the suburb has already changed,” Mr Rana said.
The opening of LJ Hooker Parramatta coincides with the expansion of the iconic brand into surrounding suburbs. Earlier this year, LJ Hooker Granville and Guildford purchased the long-established LJ Hooker Merrylands and are now preparing to relocate to new premises in the suburb next month.
Principals Joe Bechara and Wade El-Takchi secured the franchise from veteran agent John Contos who has retired. They will also take over the property management side of the business from September 1.
“We have an opportunity to increase our market share in Merrylands and if the new Parramatta office can do the same thing, then LJ Hooker will have a great presence in Sydney’s western suburbs,” Mr Bechara said.
