New shareholders add impetus for Cygnet West
Cygnet West has welcomed five new shareholders, cementing its local ownership structure as it begins a new era as Western Australia’s biggest independently-owned commercial real estate firm.
The new shareholders of the agency are all senior members of the Cygnet West team, and represent a cross section of the business.
They are Head of Commercial Agency Wayne Lawrence, Partner Commercial Leasing Dustin May, Partner Commercial Agency (Capital Markets) Tory Packer, Partner Commercial Leasing Daniel Taylor, and Head of Strata and Communities Management Ali Qamar.
They join existing shareholders, Chief Executive Officer Imran Mohiuddin and Head of Agency Ian Mickle, both long-term owners of the business.
“We made the decision in June last year to introduce new shareholders to the business, after deciding we would be going forward as an independent agency,” said Mr Mohiuddin.
“The new shareholders for our firm are all long-standing members of our team. They have grown and developed their careers with us and each of them play leadership roles within our business.
“Over the past six months, they have all been intricately involved in the development of our new brand, and in refining our ethos and values, and we are delighted to welcome them as partners to help drive the ongoing growth and success of the firm.”
Formerly operating as a Colliers franchise, Cygnet West discontinued its relationship with the global company on the expiry of the franchise agreement on December 31 and commenced operating on January 1 as a fully independent agency.
Prior to the introduction of the new shareholders, majority ownership of the firm had been unchanged for more than two decades.
Mr Mickle became a shareholder in 1990 after being introduced to the firm by his father, Bryan Mickle, who had joined the agency in 1950 when it traded as PC Kerr & Associates.
Mr Mohiuddin bought into the business in 2001, and became State Chief Executive of the then-named Colliers International in 2003. He remains the major shareholder of the agency, which under his leadership has doubled its headcount, trebled its footprint and add six new divisions to meet evolving client demand.
“Dustin, Daniel, Tory, Wayne and Ali are the next generation of leaders within the firm, and in the WA property industry,” said Mr Mohiuddin.
“It’s a fantastic vote of confidence in our business that they are making such a significant commitment to Cygnet West, and demonstrates their belief in the path we’re on.
“Ownership of the firm remains in Western Australian hands, and with the addition of our new partners represents both a broad cross section of the business and a blend of the old and the new – ensuring continuity and long-term corporate knowledge are complemented by fresh thinking and forward momentum.”