We still have our chequebooks out, say agents looking for more acquisitions

While some nationals – most notably Countrywide – are closing branches, acquisitions and new openings are still continuing elsewhere.

Following the merger of national estate agents Leaders and Berkshire-based Romans, the Property Services Holdings Group (PSH) has reaffirmed its commitment to further expansion.

With 151 branches across the UK, the group said it is actively searching for further lettings companies to acquire.

It has also announced the purchase of Bennett and Stevens in Tonbridge, Kent.

This has taken the total number of acquisitions by PSH to 22, adding 31 branches to its network.

Matthew Light, group acquisition director for PSH, said: “Despite some of our major competitors opting to put away the chequebook, we are ready to invest in more companies in order to expand our growing branch network even further.

“Our acquisitions team is currently extremely busy as we continue the search for new and successful businesses that can be absorbed into the group.

“We focus heavily on retaining staff and offering them an opportunity to progress their career through additional training, development and job opportunities.”

Also still keen to acquire is Andrews, which has acquired London agent Firmstone Estate Agents, together with Mackendrick Norcott in Winterbourne, near Bristol, and City Central Lettings in Bath.

Michael Robson, chief executive of Andrews Property Group, said: “We are committed to identifying successful businesses that not only share our values, but which also provide us with an opportunity to expand the provision of our full range of services across areas in which we are already active.

“Each of these recent acquisitions allow us to strengthen our presence in areas where the market is particularly buoyant.”

He added that negotiations are in advanced stages for further strategic acquisitions.

In York, Linley & Simpson has acquired competitor Minster Property – its second acquisition in the city this year.

Linley & Simpson, which employs 161 people, plans to double the size of its business over the next three years through more acquisitions.

More top news stories

UK virtual tours firm clinches global deal with fast-growing US estate agency firm

Continue Reading ...

Ex-university student sets up website for undergraduate renters to review agents

Continue Reading ...
x

Email the story to a friend

2 Comments

  1. StatementOfFact

    “We still have our chequebooks out”

    Anyone dealing in cheques in this day and age should not be trusted.

    Report
    1. Stevie

      If they still have their cheque book out, which I’m reliably informed that it is with a crooked arthritic hand, could they please pay my outstanding invoices.

      Report
X

You must be logged in to report this comment!

Leave a reply

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.