Real estate agency Knight Frank has returned to Tasmania, opening two dual-branded offices with McGrath in Hobart and Launceston.
The partnership marks Knight Frank’s re-entry into the state after its Tasmanian franchise was acquired by Elders in May 2024, ending a 27-year presence.
That deal saw Elders snap up five Knight Frank locations in Hobart, Kingston, Launceston, Devonport and Swansea.
A new McGrath Knight Frank office has now opened in Sandy Bay, while an existing McGrath office in Launceston has rebranded under the McGrath Knight Frank banner.
The offices are headed by McGrath franchisee Josh Hart, who has 18 years of experience in Tasmania’s property market and more than $1 billion in career sales.
Hart said the move would bring significant value to Tasmanian clients.
“There is a lot of confidence in both brands in Tasmania and we are really excited to be bringing the Knight Frank brand, which is well known for its history and success, back to the state, as well as expanding the McGrath presence,” he said.
“There is no other brand in the market that offers the reach that our McGrath Knight Frank offices will have.”
Hart said the offices had recently appointed Paul Reed as a lead agent in Hobart, with further recruitment underway across both locations.
“The appetite for both residential and commercial property in Tasmania is huge, but with limited supply and property being tightly held, we are seeing strong growth,” he said.
Knight Frank chief executive James Patterson said the company had been committed to returning to Tasmania.
“I’m thrilled to be announcing that we will now again offer the full suite of property services in Tasmania via an office in collaboration with our valued partner McGrath,” he said.
McGrath chief executive John McGrath pointed to strong market conditions in the state.
“Tasmania’s property market has evolved significantly in recent years, fuelled by interstate migration, lifestyle shifts and improving infrastructure, with tens of billions of dollars in projects in the pipeline, including a $200 million terminal expansion development at Hobart Airport due for completion in 2028,” he said.
Knight Frank and Bayleys completed a joint acquisition of a controlling stake in McGrath in June 2024, paving the way for the dual-branded partnership.
