The Gunne family has sold its interest in estate agents Gunne Residential and Gunne Financial Services to a new team of investors for an undisclosed sum.

The new team is made up of Declan Cassidy, Rosemarie Gunne (both presently working with the company), Marian McQuillan, Anne Walsh and Peter Fahy. Declan Cassidy will continue as MD of Gunne Residential and Gunne Financial Services, while Rosemarie Gunne will remain on the board as Sales Director.

Marian McQuillan will take up the role of CEO, while Anne Walsh has been appointed Marketing and Communications Director. Peter Fahy has been named as Finance Director, while Tony McArdle has been appointed Chairman.

Owner Pat Gunne said that after giving serious consideration to a number of options, it was decided that the long term interests of the business, its employees and customers would be best served by selling to outside investors 'who could adopt a hands on approach to running the company.

The new team is planning major expansion and investment in the business over the next 18 months, with a number of new offices planned for Dublin city.

The company headquarters will also be relocated to 176 Pembroke Road, Ballsbridge - the original Gunne headquarters.

Established in 1956 by Patrick B Gunne, the company now has a network of 17 offices nationwide. Seven of these are in Dublin (Ballsbridge, Rathgar, Swords, Dun Laoghaire, Fairview, Phibsboro and Lucan). The other five offices are at Bray, Naas, Drogheda, Navan and Monaghan and with another five licensee branches in Sligo, Letterkenny, Carrickmacross, Ballina and Castlebar.