Countrywide firm Hamptons has acquired Patterson Bowe, an upmarket London agency operating in Knightsbridge, Kensington and Chelsea.
Established over 25 years ago, the agency has handled the lettings transactions of some of the capital’s finest properties.
Patterson Bowe staff will join Hamptons’ Knightsbridge branch with immediate effect, while directors Stuart Patterson and Allister Bowe will take on consultancy roles.
Lesley Cairns, Hamptons’ head of lettings, said: “Through organic and acquisitive growth, the lettings division at Hamptons International has doubled in size over the past eight years and the latest acquisition reflects the company’s strategic plan to further expand its market share.”
You know what strikes me as strange?
Countrywide are buying up all these sucessful independent lettings firms. No doubt becaucse it has a profitable lettings book that comes with it.
BUT – As soon as Countrywide start running it like one of their offices to fit in with their model they will loos a good proportion of the book. Also the original brand will be watered down and not be seen as such a market leader.
So if these independents are doing it right, and are profitable (so much so that CW want to buy them) why is Alison Platt (CEO) trying to reinvent the wheel and turning Countrywide into a retailer more like Tesco?
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