The buying spree by franchisees continues, with two Northwood agencies expanding their lettings portfolios through the acquisition of independent businesses.

Helen Elworthy, owner of Northwood Doncaster, has purchased Galley Properties Ltd, adding 324 managed and let only properties to her portfolio. This acquisition comes just one year after a previous smaller acquisition and makes Northwood Doncaster one of the largest agencies in the region.

“This was quite a large acquisition, which resulted in an overnight 50% increase in the size of our lettings portfolio,” said Elworthy. “I’ve done several acquisitions in the past, so we’ve got it down to a fine art form now.”

She continued: “Over the years I’d built up a friendship with the previous owner of Galley Properties and when she decided to retire, I think she realised that Northwood Doncaster would be a great fit.

This acquisition is mainly a lettings portfolio, and Northwood Doncaster is retaining all five team members, who have moved into their office. Gradually, over the next six months or so the new business will be rebranded and incorporated into Northwood Doncaster.

Elworthy added: “Existing customers can expect the same levels of customer service as before but will also be able to take advantage of Northwood’s additional services such as access to our in-house MAB advisor, as well as auctions, and commercial and block management services. All of these new services will greatly benefit our landlords and tenants and we look forward to working with everyone in the future.”

The second franchisee to complete on an acquisition is Heidi Gill, director of Northwood Nottingham, who has acquired the lettings portfolio of Broadgate Nottingham.

“This was our second acquisition in two years,” said Gill. “Although it is quite a small acquisition prior to the one we did in 2020, it appealed to us because it is a lettings portfolio, the owner was retiring, the due diligence was good, and it seemed quite straightforward.”

“I started Northwood Nottingham as a cold start in 2003. At that time, it was just me and my husband Paul working there, and when we started, we had no properties at all. Today we have portfolio of about 800 managed properties, and we also do sales, which is a side of the business that is growing rapidly,” Gill added.

Phil Gee, managing director of Northwood, commented: “I would like to offer my congratulations to Helen and Heidi, who run two very successful businesses. Both ladies have completed on acquisitions before, and in Helen’s case this large acquisition comes just a year after her previous one. The Northwood Doncaster and Northwood Nottingham offices are two of our champion performers, and Helen and Heidi are very experienced in terms of planning and running expanding businesses.

“Within the Northwood network there is a huge appetite for acquisition, and we have a number of deals that will be nearing completion over the next few weeks. Our franchisees are always looking for new opportunities for business growth and this is a very exciting time to be part of the Northwood brand.”