We noticed a common theme: real estate professionals needed to quickly and confidently determine the value of commercial real estate assets. We set out to build a cloud-based, intuitive tool with the end-user in mind.
Back in 2003, our Founder, Steve Surridge was consulting and building bespoke proprietary models in excel for some of the most successful Commercial Real Estate businesses. Savills, JLL and Colliers to name a few, he worked hand-in-hand with the people on the ground to produce a tool to calculate all the variables at play.
Word spread about a new tool in the market. As these things tend to do in a close-knit Commercial Real Estate (CRE) community, demand for the product grew organically. Demand inspired the base model to be aggregated and the licensing structure was born. The Forbury team began to form to support the growing customer base.
The success of the product was built on the merits of Excel. Familiarity and fast assimilation were the core strengths of the tool. The outputs, reliability and accuracy cemented the product in the market as the number one valuation tool for commercial transactions in Australia and NZ. In 2016, for the sake of scalability, security and maintenance, we retained the Excel interface and took the model to the cloud. Using a powerful cloud engine makes it lightning quick (2.29 second average calculation speed, to be exact).
Fast forward to 2021 and we’ve got a team of 26 taking care of our customers in the UK, Singapore, Japan, South Korea, Australia and New Zealand. More than 600,000 valuation calculations are made in Forbury every year, so our customers can be confident they’ve got the industry’s best practice all wrapped up in our easy-to-use tools.
Our team members have backgrounds in financial modelling, corporate finance and product development. Our passionate group of coders, analysts, support staff and connectors continue to deliver Forbury products best suited to the market. We continue to work alongside real estate professionals to understand what they need, and every day we work hard to deliver it.