WEBB Bros Real Estate will soon have new owners.
Gary Ferris and Pam Hannaford are in the process of purchasing the business.
It brings to an end a tumultuous period for Webb Bros.
Webb Bros was placed into receivership on May 21 and on July 10 a decision was made to liquidate the business.
“The whole period we have gone through has been really difficult for all concerned,” Mrs Hannaford said.
During the liquidation period the business was broken up and its separate divisions have now been sold off.
Webb Bros Livestock was purchased by TGL (Taree Gloucester Livestock) and the rural supplies side of the business has also been offered for sale.
Mr Ferris said the decision to make an offer for the real estate business had come on the back of overwhelming support from the people of Gloucester.
“There was a great deal of goodwill from the community when the business got into trouble,” he said.
Despite its troubles, Webb Bros has continued to perform strongly on the real estate front.
“In the past two months we’ve sold over $4 million worth of property,” Mr Ferris said.
“I’m really encouraged by the market at the moment and the level of enquiry we’ve been getting.
“What we really need now is more listings.”
Mr Ferris said the pair would now work hard to take the business forward.
“There’ll be subtle changes over the next six months. There will be a freshening up,” he said.
“We want to get the business right.
“We want to be a profitable, customer-focused real estate agency.”
The business will change its name to Webbs Real Estate and there will be some staff changes.
“There will be a high level of team involvement in taking the business forward and staff will need to be multiskilled,” Mr Ferris and Mrs Hannaford said.
Mr Ferris has been with the company for nearly four and a half years, while Mrs Hannaford has been an employee at Webb Bros for nine years.
The pair expect to finalise the purchase of the business within the next two months.