LRG has expanded its estate agency network with the acquisition of independent firm Farrar & Co in London for an undisclosed sum.
The Fulham-based agency, run by directors Julian Chambers and Terje Gilje, had positioned itself as an independent, privately owned business. Established in the 1950s and acquired by the current directors in 1994, it has since built a presence in the Chelsea area.
Following the deal, Farrar & Co will continue to trade under its existing name, with all staff transferring to LRG. Julian Chambers will remain with the business, while Terje Gilje will not be joining the company.
Chambers said: “Farrar & Co has always been built on strong relationships, local knowledge and a consistent, personal approach to service. Joining LRG allows us to continue doing what we do well, while benefiting from additional support and scale. It gives the business a strong platform for future growth while staying true to what has made it successful.”
Matthew Light, group mergers and acquisitions director at LRG, commented: “Farrar & Co is a business built on reputation, experience and long-standing client relationships. Julian, Terje and the team have created something with real depth in the market. We are keen to retain that strength while supporting the business as it grows within the LRG network.”
LRG has also acquired Chelsea-based block management specialist Principia Estate and Asset Management, which was also owned by Chambers and Gilje. The firm manages around 250 buildings, many located in conservation areas and among some of London’s most valuable residential assets. Principia will retain its brand and existing leadership.
Michael Cook, chief executive at LRG, added: “This acquisition adds a well-established Chelsea agency to our existing London operations. Farrar & Co brings a strong local presence, supported by two prominent offices and an experienced team that understands how to deliver for both sellers and landlords. The strength of the Farrar & Co brand is an important part of that success, and it will continue to play a central role as we build on this foundation.”