A Martin & Co franchisee has snapped up a local rival just five doors away.
The Witney branch of Martin & Co, one of the UK’s largest lettings agency brands, has acquired Oliver James’s Witney office to become what it says is the largest agency of its type in west Oxfordshire.
Martin & Co Witney managing director Brendan Kay led the acquisition process.
Oliver James’s staff have also moved to Martin & Co Witney, bringing with them many years of combined local sales and lettings experience and market leading knowledge.
Kay said: “We actually nearly acquired Oliver James a year ago but the timing wasn’t quite right. But at the beginning of this year we met up and decided to restart the process and I’m delighted that everything is now complete.
“The previous owner will be working with us at Martin & Co Witney on a consultancy basis so there will be an ongoing relationship.”
With Oliver James located so close to Martin & Co on High Street, Witney, the family agency’s staff have already joined their new team.
Oliver James continues to operate its branches in Abingdon and Kidlington, also in Oxford.
While this story lacks a bit of meat on the bone, in terms of number of units acquired and so on, what struck me as very interesting is the fact that OJ are continuing operate in two other small towns as well as in Oxford. Witney to Oxford is what, around 12 miles or so away and easy to get to/from? So if you were a PB agent that would be considered as on the doorstep, yet OJ took the decision to sell rather than consolidate Witney into one of the other offices. That says to me, Martin & co probably got a very good deal and that being genuinely local is the most profitable way to conduct an agency business. Long live the High Street!!
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