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Walsh and Monaghan has reached its 95th year of operation.
The large, independent regional valuation firm began in Nowra and now has offices in Nowra and Wollongong, which service the South Coast, Far South Coast, Illawarra, Southern Highlands and greater Sydney region, while also conducting acquisition assessments and specialist valuations throughout NSW and interstate.
It was 1923 when farmers Ulrich Walsh and Stan Monaghan decided to become stock and station agents.
They opened an office in the P. Walsh and Sons building in Junction Street, about 150 metres from where today’s office is located, and also a cattle sales yard near the corner of North and Osborne streets.
Stan left the business in 1933 and Ulrich carried on as sole practitioner, moving the office to a side lane-way, still in the Walsh’s building.
He continued here throughout the 1930s and ’40s, holding auction sales in the backyard of the shop.
During World War II, Ulrich became a member of the Commonwealth Institute of Valuers and built up an extensive valuation practice.
His son, Brian joined the firm in 1953, bringing with him real estate experience. He too became a valuer.
The office moved a couple of times, and business was good.
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A quiet period in 1960 saw Brian head to New Guinea to take on a regional valuer job, returning in 1963 – just before his father died.
Brian intended to become a farmer, but quickly realised he was better off investing in Walsh and Monaghan.
While things were quiet for a time, the name was well-respected and around 18 months later a partnership with the Bice family was forged.
Business continued to prosper. Brian retired in 1970, and Ken Leonard, who ran a practice in Wollongong, bought his share of the business.
At this time John Austin was working for the Valuer General’s in Nowra and was offered a partnership at Walsh and Monaghan, which he took up.
A number of staff contributed to the success of the business during the next several decades.
A second office was opened in Wollongong during the property boom of the 1980s.
In 1992, the real estate side of the business was sold and the team was able to focus on the valuation side of things, which flourished.
Current director Darren Austin, John’s son, joined the team in 2000.
The business continued to grow rapidly, peaking at 17 valuers by 2003.
In 2003, the company made just under 10,000 valuations.
While the valuation industry has changed, Walsh and Monaghan has done its best to change with it, evolving and changing as needed.
Today Walsh and Monaghan provides property valuations for most purposes and property types, including residential, rural, commercial, industrial and tourism, and has a long history of providing specialist advice for compulsory acquisition matters to councils, state and federal government departments and the general public, including determinations.
The team consists of 15 valuers and six administrative staff.
Walsh and Monaghan is a contractor to the Valuer General’s department for rating and taxing assessment in the Shoalhaven, Wingecarribee and Wollondilly LGSs and provides objection services for surround LGAs.
The company also provides valuation advice up and down the entire eastern seaboard for larger projects, tourism and childcare valuations, including the Tasmanian Gas Pipline, Kiama to Bomaderry Highway upgrade, and Lismore to Dumaresq Transmission Line Upgrade, among others.
They are also conducting determinations on a number of infrastructure projects in Sydney and throughout the state.
The firm’s time in the industry demonstrates Walsh and Monaghan’s ability to meet changes in market conditions and client expectations, ride out the tough periods in property market cycles and ability to continue providing relevant, independent and trusted advice to its long-term and newer clients.
Director Darren Austin said his team enjoyed working with the local community, finding people to be friendly and laid-back.
“There is also a growing camaraderie among local professionals,” he said.
Walsh and Monaghan also shows its support for the Shoalhaven via sponsorship of sporting and community groups.
Walsh and Monaghan can be found at Suite 1, 57 Junction Street in Nowra or visit the website at wmval.com.au.
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