Second acquisition within months for agent as letting fees ban approaches

An independent has acquired its second small business in less than a year as part of its ‘strength in numbers’ strategy to overcome the effects of the tenants’ fees ban.

Let Leeds, which has two branches, bought Let’s Go Professional last August and has now acquired Milnes Walker.

The latest purchase will add a further 130 managed properties to the portfolio, and two additional members of staff.

Let Leeds managing director Luke Gidney said: “By joining forces with other independents in Leeds, we believe we will have the muscle, talent and stability to weather the upcoming changes in the lettings market.”

For the time being, landlords and tenants will continue to be looked after by the original Milnes Walker team, before being consolidated into the Let Leeds Pudsey office, creating economies of scale.

Gidney said: “By combining two existing branches into one, we can retain all employees, but importantly, also remove the painful duplication of overheads.”

Gidney said he hopes to acquire, or merge with, other small independents in Leeds as the fees ban approaches.

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2 Comments

  1. Property Pundit

    Consolidation appears to be the way forward so long as all the personalities involved can continue to get on.

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    1. Lil Bandit

      Which would be hard for someone working with you….

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