Countrywide acquires four rental businesses in the first quarter of 2011

Residential Lettings

Friday, April 15, 2011

Countrywide, the UK's largest letting agent and property services Group is continuing to expand its lettings footprint with the acquisition of four rental business in the first three months of the year.

Countrywide, has acquired Sheffield-based agents Spencers, Durham-based professional lettings agency Cathedral Lettings, North East-based Property Quarters, in addition to the Blackburn-based portfolio of agents Holden & Kelly.

The most recent addition, Spencers, was founded in 1993 by Anne and Jim Spencer and the estate agency has grown to become an established and well-respected lettings business, located in the affluentEcclesall Roadarea of southwestSheffield.

The Holden & Kelly portfolio in Blackburn was the first acquisition of the year, obtained to add value to the current portfolio inBlackburnand enable the local Entwistle Green business to go from strength to strength.

Long-established agent Property Quarters joined the Countrywide network in February, with offices in North shields andWhitbyBay, whilst Cathedral Lettings, a lettings specialist inDurhamjoined Countrywide last week. The staff from all these offices were transferred with the businesses.

Margaret Longden, Co-managing Director at Countrywide Residential Lettings comments: "The recent acquisitions underline the Group's strategy to expand our lettings business through the addition of high quality, market leading businesses.

We are very excited about working with the new teams and leveraging our Group infrastructure and experience to support the new teams in growing from strength to strength."

These acquisitions complement Countrywide's strategic growth plan, which has included the opening of over 70 new offices during the last nine months as the group continues to expand its network of over 1300 sales and lettings offices.

These new offices span the whole of theUK, including the North East, Hampshire and the West Country. The acquisition of the multi-branch agency Letmore Group, in July also increased Countrywide's presence in theLondonarea.

John Hards, Co-managing Director at Countrywide Residential Lettings adds: "Countrywide Residential Lettings has been growing at a rapid rate over the last few years. Aided by the support from our Estate Agency division plus the lack of financing constraints, we've been able to focus on doing our research and expanding our footprint in areas likeSheffieldand invest in the training and development of branch staff.

We have a strong history of acquiring local lettings branches and portfolios and we're always on the look out for new opportunities to grow our lettings offering to customers. We have a number of acquisitions in the pipeline for this year and we are speaking with many others."

In addition to expanding their brands, Countrywide Residential Lettings are committed to offering the best opportunities throughout all offices and have invested heavily in recent years to create a robust back office infrastructure to support their teams.

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