Andrews Property Group has announced the acquisition of HomeLets Bath.
This strategic move is designed to significantly enhance the group’s lettings portfolio, focusing on strengthening its market position within the Bath lettings sector.
The acquisition brings Andrews Property Group’s total managed portfolio to over 5,500 properties. This expansion increases the group’s market share in Bath, consolidating its position as a key player in the regional lettings market.
David Powell, managing director of Andrews Property Group, commented: “Our performance turnaround in 2024, with a £1.9 million shift in profitability, has created the platform for strategic growth, making the HomeLets Bath acquisition possible. This key milestone demonstrates our commitment to growth and ability to identify and integrate high-quality lettings businesses, while also strengthening our market position.
“The acquisition will add £1 million to our group turnover and as a business owned by a charitable trust, increasing our profit helps to fund safe, high quality, and affordable homes for young people at risk of homelessness.”
Angharad Trueman, group lettings director, added: “The HomeLets Bath acquisition represents more than just a numerical increase in our portfolio. We’re bringing together two strong teams with a shared commitment to exceptional service. Our immediate focus is on getting to know the HomeLets Bath team, welcoming landlords, and tenants, and ensuring a smooth transition that maintains the highest standards of service for our expanded customer base.”