Countrywide Residential Lettings grows significantly making 15 acquisitions in the past six months

Countrywide Residential Lettings

Monday, September 16, 2013

Countrywide capitalises on the growth of the UK rental market as it builds its portfolio acquiring lettings businesses in key locations across the UK including five acquisitions alone during one week in September.

 Award-winning Countrywide Residential Lettings part of Countrywide plc, the UK's largest integrated property services group, has strengthened its business and commitment to the UK rental market by successfully completing 15 acquisitions over the past six months.

The latest additions in England and Scotland mean that Countrywide Residential Lettings has acquired 18 businesses since the start of 2013 and successfully completed 59 acquisitions since 2007. Countrywide Residential Lettings has also grown organically over recent years through the opening of over 180 new lettings branches since 2010.

Countrywide Residential Lettings made two key acquisitions in Scotland, further strengthening its presence there. In July, Countrywide acquired Portfolio lettings agency in Hamilton and in September Carol Whyte lettings agency in Dundee. The continued network expansion comes off the back of Countrywide’s acquisition of Merchant Lettings in October 2012, when Countrywide doubled the size of its network of lettings branches in Scotland and provided a strong platform for future growth. 

Countrywide Residential Lettings’ presence has also been strengthened in Hampshire and Wiltshire following the purchase of the well-established and local market-leading lettings business WSB Group.  In September, Countrywide acquired Avon Lettings in Amesbury which will combine with WSB Group, strengthening the group’s presence in the local area.

Further acquisitions include the portfolio of Knights of Bath, a long-established and highly regarded lettings business, Flats in Leeds, which manages apartments around Leeds city centre, Interlet Property Management, managing over 160 rental properties in Yeovil, South West Estates in St Ives, Cornwall, with a wide-ranging property portfolio, Rufus Stephens, a well-known estate and lettings agency in Chandlers Ford, Tingleys, an experienced  local lettings agency in Hove, Plaza Lettings servicing the suburbs of Liverpool, Hawkins a well-established agency in Rugby, Newton Abbott based lettings business Property Sales and Rentals, and the portfolios of Fells Gulliver in Lymington and Stoberry Lettings in Wells. These portfolios have been combined with Countrywide’s existing local estate agency brands to strengthen the group’s local offering.

Nick Dunning, Group Commercial Director, Countrywide plc, comments:

“The 15 acquisitions made in the past six months are in line with our strategy of rapid expansion, which includes plans to complete on at least another eight acquisitions before the end of the year.  We have fully integrated these businesses within the overall Countrywide lettings model and this has led to strong growth in the lettings division. This is an exciting period for Countrywide Residential Lettings and the growth of our lettings operation continues to be a major focus for the group.”

John Hards, Managing Director, Countrywide Residential Lettings, comments:

“I am delighted to welcome the most recent acquisitions to the Countrywide Residential Lettings team and look forward to working with all who have joined us. 2013 has been a fantastic year of growth so far with 15 businesses added to our portfolio over Q2 & Q3.

“Countrywide has a unique ability to grow businesses by ensuring they operate autonomously, retain their local heritage and benefit from Countrywide’s ongoing investment and support. For clients, Countrywide’s structure, scale and all-round property expertise enables it to best serve the needs of clients of all sizes; from private landlords to corporate investors.

“In line with our expansion strategy and with more acquisitions in the pipeline, we are very interested in talking to professional agents with single or multi branch businesses almost anywhere in the UK.

-Ends-

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