LJHooker auction nearing an end

Real estate chain LJHooker is believed to be in talks with two Australian suitors in a Lazard-advised sales process that could be finally nearing conclusion.

One wonders whether McGrath Estate Agents could be one of the mystery parties, after news emerged yesterday that it had drafted in Simon Mordant of ­Luminis Partners to work on ­expansion opportunities.

McGrath held talks with JPMorgan about a potential listing last year, as first revealed by The Australian. Other possible buyers of the LJHooker business could be rivals Ray White Real Estate or Century 21.

This article first appeared in The Australian Business Review.