Franchisees are continuing the trend to consolidate the industry in their local markets by buying up the competition in programmes supported by their head office franchisor.
In Southampton, Martin & Co has acquired more than 250 properties from Jonathan Rees Lettings – as well as four staff.
Franchisee Gavin Naish said he had been “keen to sink my teeth into an acquisition for some time”.
In Chelmsford, Martin & Co franchisee Stephen Frost has bought the 100-strong lettings portfolio of Owen Lyons, growing his business by 50%.
He has also acquired the agent’s premises plus four members of staff.
The team includes Owen Lyons owner Martin Orchard, who joins the Martin & Co team.
Frost, who was a regional operations director for Martin & Co before buying the Chelmsford business in 2008, said: “I have been looking for the right business to acquire for several years.”