Countrywide acquires four lettings businesses


Tuesday, November 22, 2011

Countrywide Residential Lettings, part of the UK's largest estate agency and property services Group, has expanded its successful lettings network with four additional business acquisitions in the last four months,taking the total number of lettings acquisitions to eleven in 2011.

The recent acquisitions include the lettings portfolio of Benjamin Oliver Estates in Derby, plus Mike Jolly Estates in Sheffield and Rotherham, the portfolio of Hamptons in Warrington and the well-respected Lincoln agency, Lighthouse Properties.

Most recently, Countrywide has purchased the large lettings portfolio of Derby-based business Benjamin Oliver Estates. The diverse portfolio spanning the Derby area has been transferred to the busy city centre Frank Innes office on St James Street, extending Frank Innes' strong East Midlands presence further.

Further north, the portfolio of local agents Hamptons in Warrington was transferred across to the Stockton Heath branch of Bridgfords, whilst inline with Countrywide's expansion plans for the Yorkshire region, the network has also secured the purchase of well-established, large lettings business Mike Jolly Estates. With two branches managing hundreds of properties across the Rotherham and Sheffield area, the deal follows the Group's acquisition of leading Sheffield estate agency, Blundells and lettings agents, Spencers earlier this year.

At this exciting time of growth, Countrywide Residential Lettings have also extended their student lettings offering, and following the purchase of Southampton-based student lets agency Cryers in May, the business have acquired specialist agency Lighthouse Property Services.

Ideally positioned in the centre of Lincoln, Lighthouse Property Services manages a large and growing student, private and professional lettings portfolio of over 600 properties, which range from new build apartments to large student houses and Victorian terraces.

Established in 2000, has grown to become Lincoln's leading student lettings service and a highly successfully business, with a dedicated property management system in place and a range of products to cater for the specific requirements of their landlords.

The business offers both long-term and short-term lets, with the flexibility of letting some properties by room. Managing director Tim Clark and director Jackie Todd will continue to manage the business, supported by their 13-strong team, who have also transferred with the business.

Tim Clark, Managing Director, Lighthouse Property Services, comments:

"We are proud of what we have achieved over the last decadeand operate a successful business, but we see this as a great opportunity forus as Countrywide will be able to develop the brand and integrate it into their successful network, taking the business to the next level.

"Our business goals and values are closely aligned and Countrywide have a great track record of helping lettings businesses to develop in their local markets so we are very excited about the opportunities the deal will bring."

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

"Countrywide ResidentialLettings is experiencing a phenomenal year of growth both organically and through acquisition and we are absolutely delighted to have extended our lettings footprint with an average of one new acquisition per month this year, with further expansion in the pipeline.

"We have not only expanded our portfolio, but we've also had some of the best and most experienced lettings and property management professionals in the country join Countrywide, with many of the owners of our acquisitions continuing their career with us to enjoy the opportunities and support they can gain from being part of the UK's leading lettings network.

"We are constantly looking to grow our successful and well-established lettings business and we are in a strong financial position to do so, so we urge business owners to get in touch to discuss what opportunities are available."

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