Leaders Romans Group has announced another business acquisition – that of three-branch Moginie James. The price has not been disclosed.
A residential sales and lettings agency in Cardiff, it was owned by Nick James who founded it in 2001 with then business partner Peter Moginie.
The business also includes a short lets Airbnb–style company created in 2019 called ‘Hello Ted’, named after Nick James’s much loved dog, and run by two members of the senior management team of Moginie James, who will remain as employees for both businesses.
The existing premises in Cyncoed, Roath and Pontcanna will remain under the Moginie James brand, and LRG said that all 44 existing staff will now join the group. Nick James will continue to work with LRG on a consultancy basis post-completion.
The acquisition of Moginie James strengthens LRG’s presence in the Wales and western region where, in 2018, LRG launched a land and development team under land director Daniel Hodgkiss.
This team works closely with Boyer, LRG’s planning and design consultancy which has offices in Cardiff and Bristol, to identify development sites and provide professional advice to landowners and developers across the region.
Matthew Light, group acquisitions director at LRG, said: “Moginie James represents an excellent opportunity to enter the Cardiff market, extending the geographic footprint of the LRG network into South Wales.
“Cardiff provides a significant property base which more than justifies the three-branch location that the current business trades from.
“Additionally, the Hello Ted business represents a significant opportunity to grow a short lets business, not just in Cardiff but also across some of the other cities where LRG already has a presence.
“We are delighted to welcome such a strong business into the LRG fold, and even more so to be welcoming all of Moginie James’ existing employees into the group. We are confident that business will continue as normal for our acquired clients, who will continue to benefit from the excellent customer service that they have come to know and expect of the Moginie James teams.”
LRG has now completed on over 150 successful acquisitions across the UK, making it the property industry’s leading acquirer. Light made it clear that LRG is continuing to look for new purchases.
He said that he would like to hear from anyone thinking of selling their business. He said that the group “adopts a hands-on approach to help business owners achieve their objectives”.
Moginie James was in the headlines as one of the two agents caught up in Agents’ Mutual’s litigation over the ‘one other portal’ rule operated by OnTheMarket.
However, in January 2017 the claims were withdrawn. Agents’ Mutual went on to win its case against Connells brand Gascoigne Halman.