Diamond started the business from a small office in Absa centre (formerly Trust Bank Centre) which Diamond went onto to sell at what was the largest commercial CBD broking deal at that time, it made front page of the Sunday Times Business section! Due to leads & deal flow being received at such a rapid base Diamond felt it necessary to embark on creating a team of specialized property brokers.
Diamond teamed up with partner Nathan Brajtman who manages & partners Diamond in the broking business. They also opened a branch in Tygervalley & now employ 10 brokers to cater for the whole Western Cape which cover Industrial, offices, retail & investment type properties.
Diamond Property Management is run by partner & managing director Leigh Maingard who’s knowledge on property management & sectional title management is substantial and they currently employ approximately 120 staff with a management portfolio well in excess of R5 Billion rand & growing.
The Australian operation started when Diamond realized the global village would mean astute property investors will be looking all over the world to invest. He studied the Australian property market & economy & realized this is a place to invest & the only way to do it properly was to relocate to Australia for a few years & do it himself.
Today Diamond Property Group in Australia manage assets in excess of R 700 million rand. Diamond has taken an equity stake in all the properties he manages & has not gone into 3rd party management at this stage or broking.
He deals mainly with South African investors made up of High net worth individuals & institutions/listed entities, & also operates as a consultant to investors as well as to South African retailers & businesses looking to expand into the Australian market.
The other opportunity is for smaller investors to invest along side Diamond in small Co-investments or syndicates, though he maintains that this opportunity, where net yields & returns on equity are more attractive in Australia than South Africa, will not last for too much longer.
