The Chelmsford branch of Martin & Co has acquired a nearby independent rival, Property Street.

The acquisition by the Chelmsford-based firm, part of The Property Franchise Group (TPFG), comes 18 months on from the last purchase made by Martin & Co franchisee Stephen Frost, who has owned the local agency for 12 years and has more than 25 years of experience in the Essex property market.

Frost added the 100-strong lettings portfolio of Owen Lyons in July 2019, growing his business at the time by 50%.  

Martin & Co Chelmsford has now added the managed properties of Property Street to its growing portfolio in the Essex city.

Frost said: “I’m absolutely delighted to complete the acquisition of Property Street’s portfolio.

“Property Street has been part of Chelmsford since 2006 and is a well-respected business like our own, so we’ll be making sure their landlords enjoy a smooth transition over to Martin & Co and that they benefit from our brilliant services moving forward.”

Chief executive of TPFG  Group Gareth added: “Stephen and the team in Chelmsford continue to do an amazing job and this second acquisition is a well-deserved coup for them.

“The Chelmsford branch has an incredible reputation for strong customer service and supreme knowledge of the local property market, so I know Property Street’s landlords will benefit hugely from being part of Martin & Co.”