David Reid Homes operates a national network of franchised builders, a model familiar to Waterman through its earlier investment in Guthrie Bowron. The brand targeted the premium end of the new home market with an average build value greater than $500,000 which gave the brand a significant point of difference.
David Reid Homes was clearly positioned in the middle-upper premium market and the brand had become known for its quality product. The residential building market was extremely fragmented with the largest player holding less than 4% market share at that time.
In total, group builders only represented a relatively small proportion of the NZ building market compared with Australia and the USA, and Waterman anticipated further consolidation in the domestic market.
David Reid Homes operates a national network of franchised builders, a model familiar to Waterman through its earlier investment in Guthrie Bowron. The brand targeted the premium end of the new home market with an average build value greater than $500,000 which gave the brand a significant point of difference.
David Reid Homes was clearly positioned in the middle-upper premium market and the brand had become known for its quality product. The residential building market was extremely fragmented with the largest player holding less than 4% market share at that time.
In total, group builders only represented a relatively small proportion of the NZ building market compared with Australia and the USA, and Waterman anticipated further consolidation in the domestic market.
