Yorkshire estate agent, Manning Stainton, has announced the completion of a milestone acquisition of one of Lancashire’s best known estate agents, Ryder & Dutton.
The acquisition will create one of the largest independently owned estate agency groups in the North of England, with a 40+ branch network covering Leeds, Manchester and other hotspots across West Yorkshire, East Lancashire and Derbyshire.
In a deal that has been privately backed and supported by HSBC, both long-established brands will be retained but joined together under an umbrella company, the Northern Estate Agencies Group, which will be headed by Manning Stainton’s managing director, Mark Manning.
Mortimers Estate Agents, which Ryder & Dutton acquired in 2017, will also sit under the Northern Estate Agencies Group parent company, effectively uniting the three leading regional estate and lettings agency brands, and creating a powerhouse property company with a combined turnover approaching £25 million.
Speaking about the deal, Mark Manning, new Group managing director, said:
“We have much in common with Ryder & Dutton, both home-grown and well established in our respective regions, with shared core values. The value in the estate agency industry is within its people, and combined, we have the best people in the business.
“One of the core principles of the enlarged Group is to respect the heritage and reputation of each of the brands, whilst we make the most of this landmark opportunity to bring all our strengths, skills and intricate knowledge of the regional market under one roof. Strategically, this is a powerful combination, and our senior team is set on delivering our plan to improve and further dominate the estate agency industry in the north.”
The newly formed Group will employ a team of almost 450 people, and the senior management teams across both companies will be retained.
Ryder & Dutton’s managing director, Richard Powell, added: “This is the coming together of two like-minded businesses who can really move the Northern estate agency sector forward and take more market share in each region. We’re building our businesses while retaining our successful local approach.
“We both pride ourselves on unrivalled local knowledge and great customer service, and we’ve admired and respected each other’s work and approach for many years. Forming an enlarged Northern Estate Agencies Group made sense on every level, and demonstrates our confidence in the growth of our industry.”
The deal will also create an expanded mortgage business, with a combined team of over 30 mortgage advisors providing mortgage services to clients in partnership with the Mortgage Advice Bureau. The lettings side of the business will also be significantly enlarged, with the Northern Estate Agencies Group now having over 3,000 properties under management.
Both Manning Stainton and Ryder & Dutton have Auction House and Fine & Country divisions, which will remain.
Manning Stainton was established in 2011 by David Pank, Mike Andrews and it’s current Chairman Russell Manning, and is one of the North’s leading estate agents, with a team of 228 and 19 sales and letting branches across Leeds, Wetherby and Wakefield. Russell Manning will be continuing as Chairman of the enlarged Group.
Ryder & Dutton was established in 1919, and acquired Mortimers Estate Agents in 2017, becoming a 26-branch network covering large parts of Lancashire, Greater Manchester, West Yorkshire and North Derbyshire. Previous acquisitions for the company include Eley Long and Co and Hazeldene Estates in 2015. It employs 206 people.
2 absolutely brilliant businesses with individual but impeccable heritage and service standards .
To boot they cover the finest city in the world .
well done to everyone involved
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Must have missed Oldham getting that heritage accolade from UNESCO Iain ?
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Oy you some of the best things have come out of Oldham
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For the avoidance of doubt I was referring to Leeds
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Congratulations 2 great brands.
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Congratulations Mark & Richard. A great move and the start of world domination no doubt!
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Congrats to both companies , proper powerhouse that now.
Richard & Mark both fantastic agents and indeed the loveliest of people , great to see.
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Russel is a great enthusiast and always destined to drive MS to much greater dominance in his area of operation. He runs a first class business so congratulations and I am very confident the acquisition will be a terrific success.
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Congratulations to both Mark and Richard, Superb companies!
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2 wonderful businesses, very well respected with some brilliant people across all offices. Well done to all involved.
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Some excellent, strong brands under the new umbrella. Great news.
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Great news can only be a good thing
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BIG respect and BIG congratulations from me.
Without doubt or question Richard Powell is one one the most inciteful and innovative agents in the business. What he and his team have built really is at the honed leading edge of the industry. For all that has been established and achieved by a remarkable team to be acquired by a company who are so closely aligned in innovation, thinking and philosophy is by far the best news I have read in a very long time.
Whenever a company is bought by another there is usually concerns about the future, I don’t think anyone needs fear change in this instance; there is a strong and logical perfect fit between these two companies!
Well done all! Brilliant news
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Two outstanding businesses run by two outstanding practitioners. It has to be the acquisition of the year. Congratulations to all involved.
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Wow!!!
What a true match made in heaven. well done to both companies!
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What amazing news! Two really great companies that I have had the privilege of working with and I am sure they will be even more successful as a combination.
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Imagine if they got their hands on Dacre, Son & Hartley.
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Dacres are successful in the expensive parts of Yorkshire – Ilkley, Harrogate, Skipton, Ripon, etc. Mannings closed their Harrogate office not that long ago. Don’t think Dacres will be worried by this deal!
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