Linley & Simpson has launched a new branch in Holmfirth near Huddersfield after completing the purchase of the letting arm of Simon Blyth and its portfolio of more than 400 homes.
The acquisition of the fellow Yorkshire independent agency is Linley & Simpson’s fourth takeover since the lifting of the national lockdown – taking its property portfolio to 10,500 units.
Simon Blyth’s letting director David Sanderson has been retained by Linley & Simpson, along with the firm’s frontline lettings team.
Linley & Simpson’s rental portfolio branch network across Yorkshire and Humberside now stands at 21, with further acquisitions anticipated.
The purchase of Simon Blyth’s letting division for an undisclosed sum is the 15th for Linley & Simpson since it secured the backing of private equity investor LDC in June 2018.
Gareth Marshall, from LDC, said: “It’s been another remarkable few months for Linley & Simpson. This latest acquisition underlines its position as one of the fastest growing letting agencies in the UK.
“Geographic expansion is an important objective for Will [Linley] and Nick [Simpson], so it is encouraging to see the business extend its footprint into the Pennine Corridor for the first time.
“It follows Linley & Simpson’s first foray into Humberside in 2019. A carefully mapped out buy and build strategy like this can deliver incremental growth that maximises opportunity and limits risk.”
The properties inherited by Linley & Simpson are mainly located in and around the eastern fringes of the West Yorkshire Pennines, including Huddersfield and Holmfirth; as well as in Barnsley, Penistone and Stocksbridge in South Yorkshire.
Will Linley, chief executive of Linley & Simpson, said: “For more than 30 years, the name of Simon Blyth has been a byword for all things property in these parts of Yorkshire.
“Extending our network in this way represents a perfect geographical fit. It enables us to reach into whole new swathes of Yorkshire – both in town centres and in the country, and featuring some real up-and-coming places.
“It equips us with the best possible platform on which to build further at pace and scale, through both acquisition and organic growth.”
Similar to a few other chains with genuine “drivers” at the helm, it’s great to see a business with constant steady growth. There aren’t many agencies which grow in such a steady way.
Taking over another letting agent isn’t for the faint hearted. With good management it isn’t surprising this is one of the fastest growing chains, albeit a smaller one.
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Good luck to Linley & Simpson… they seem like a strong outfit with good management.
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