Polites

[Wayno]

No, not a thread about manners, just a story about our local home-grown property tycoon family.

Next-gen Polites forge realty pathways

Marcus Polites, grandson of renown Adelaide property tycoon Con Polites. Picture: Brenton Edwards

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A PASSION for property and "doing deals" has been passed down to the next generation of one of Adelaide's most recognisable family empires.

More than 10 years after the death of their grandfather, Adelaide property tycoon Con Polites, Marcus and Con (Alex) Polites are forging their own path in the industry.

The 28-year-old identical twins are expanding their own property management business into Adelaide, 18 months after establishing a presence in Queensland and Thailand.

"Obviously we've got a lot of history with the city itself but I also think Adelaide's got a lot going for it," Gold Coast-based Alex said. "The State Government is certainly spending a lot of money in the city, which is fantastic for jobs and employment."

After the split of their parents George Polites and Melissa Czaus more than 25 years ago, the brothers moved with Ms Czaus to Queensland.

Raised in Brisbane, they returned to Adelaide frequently to spend time with Con and George, who were amassing a wealth of properties for the family.

While Alex pursued a career in residential sales in the sunshine state, Marcus took a liking to the retail and office sector, selling and leasing properties for the Ray White franchise for five years.

After stints with private property owners in Queensland, Marcus moved back to Adelaide in 2009 to manage the family's massive property portfolio.

George, Con's only son who owns more than 50 CBD buildings and a series of properties around suburban Adelaide, was a mentor to his two sons and supported their foray into the property industry, Marcus says.

"When we were really young we'd always come down and Dad would show us the signs, but we didn't know what they meant - we thought they were police signs," he said.

"When I joined Dad, he helped me refine and build on the skills I had developed in Queensland."

Like his brother, Marcus is bullish about Adelaide's prospects, encouraged by major projects including the redevelopments of Adelaide Oval and Rundle Mall. But he says more can be done to support the city's entrepreneurial spirit.

"All the big projects help but there needs to be less legislation and less regulation - the place is very legislated," he said.

"To set up a boutique bar or restaurant is almost impossible in Adelaide.

"You'd need to get in lawyers and the paperwork would be up to your eyeballs - and that's before it even opens."

This year, Marcus has broken away from his father's business, building his own profile in Adelaide while completing a property degree at UniSA.

He's engaging with retail and office property owners, but says carrying one of the city's most prominent names can be a challenge.

"A lot of the time it can be a negative - it certainly doesn't provide you with any privileges," he said. "But I've developed relationships with quite a few owners in Rundle Mall - and that's where I've put a lot of focus on."

The brothers' ambition is inspired by their grandfather, once known as "the king of Hindley St" after buying and selling hundreds of city properties during the 1970s and '80s.

"He was a joyful, determined, persistent businessman and he was also a family man," Alex said.

"We've definitely got the same mindset and definitely want to go in the same direction."

Marcus shares his grandfather's passion for clinching a deal, which he says inspired the family trademark - the blue and white Polites stamp that dominates the city's skyline.

"In business and in his personal life, he was strict and down the line. What he said went," he said.

"And he was proud to let people know that immigrants were just as capable of performing and succeeding just like any other Australian."