Pinewood Properties has acquired local independent estate agent Village Estates.

The purchase adds two branches to Pinewood’s existing two offices.

It extends the firm’s presence in both Clay Cross and Clowne, adding to their branches in Chesterfield and Mansfield.

Pinewoods’ managing director Stacey Davies-Bowler said: “This has been in the planning for two years, at one point we didn’t think it was going to happen, when the pandemic hit, we were just weeks away from completing as it struck, which put the brakes on everything.

“But I am very happy that we have now got it over the line for both Pinewood and Paul Bean, the owner of Village Estates, so he can now enjoy his retirement.”

The acquisition of Village Estates, founded in 1983, means Pinewood’s new branch locations will now create a diamond formation, given the firm’s coverage of the Chesterfield and Mansfield areas.

Both agents are multi-disciplined, they both have strong sales portfolios, they both deal in land and they both deal with new builds.

Pinewood already has a large rental portfolio with well over 1,200 fully managed properties on their book, but with the acquisition of Village Estates this now adds an additional 350 managed properties to the portfolio.

Bean said “Both Stacey and I believe that this is going to be great success for everyone. I am particularly pleased that our staff have fully embraced the acquisition and even though the Village brand will change, overall the ethos of the business remains the same under the Pinewood banner, the future does look very bright.”