John McGrath, dubbed “Mr Sydney real estate” for his high profile and longevity in the market, has stepped down as the chief executive of the group he founded in 1988.

Mr McGrath will remain an executive director on the board but will hand over the day-to-day operations to the newly appointed chief executive Cameron Judson. Instead Mr McGrath will focus on brand, growth and innovation.

Mr McGrath said: “As the company grows rapidly it’s important to focus my attention and efforts on the areas of the business that I add most value. And with an incoming executive of the calibre of Cameron Judson joining it provides a perfect opportunity to allow me to do just that.”