Countrywide plc invests £40 million in the UK rental market acquiring 29 lettings businesses in 2014

Countrywide Residential Lettings

Monday, January 19, 2015

Countrywide plc, the UK’s largest integrated property services group including the largest lettings agency, has capitalised on the growth of the UK rental market and significantly increased its regional footprint by investing £40 million in acquiring 29 lettings businesses in 2014, the equivalent of over two businesses a month.

Since 2007, Countrywide has invested over £100 million in acquiring over 100 lettings businesses throughout England and Scotland. During that period, Countrywide has opened over 100 offices across the UK in a number of key city areas.

During 2014, Countrywide completed acquisitions including Tucker Gardner, a well established business in Cambridgeshire, full service lettings agency Personal Homefinders in Hampshire, and the large portfolio of Curtis Bains in Manchester city centre.

Further acquisitions include the portfolio of APW in Surrey, Jonathan Reese in Romsey, Nest in Nottingham, Acorns Residential in Kent, The Flat Managers in Cheltenham, Griffiths Charles in Worcester, Holmes Pearman in Basildon and Billericay, Duck & Hedges in South West London and Sewell & Gardner in Rickmansworth.

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

“The acquisitions we made in 2014 are in line with our selective acquisitions strategy, which was focused on delivering 29 acquisitions by the end of the year. These acquisitions significantly increase our regional footprint and fill in the geographical gaps in our portfolio. Current market conditions offer ongoing opportunities to acquire lettings businesses and scope to enter new markets as well as expand our presence in existing markets.

“The investments we make in our acquisitions are not only focused on the growth of our Countrywide Residential Lettings business within the Group but also the growth of our people. Over the past four years our acquisitions have created circa 350 new jobs within the lettings sector, some of which have been the first stepping stones for many graduates’ in their  future careers.”

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

“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, we are very interested in talking to professional agents with single or multi-branch businesses almost anywhere in the UK. If you would like to speak to me in absolute confidence I can be reached at john.hards@countrywide.co.uk”

-Ends-

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