Leaders has acquired East Anglian firm City Lettings for an undisclosed sum.
The business trades out of Norwich and has been owned and run by Phil Shaul and Sarah Hull since 2004.
It is the fourth acquisition by Leaders in Norwich. Earlier purchases of JSM Property, Bush Property Management and Temples have resulted in a merger, trading under the Leaders name.
Matthew Light, group acquisitions director at the Leaders Romans Group, says: “We are delighted to have acquired City Lettings and to have once again expanded in Norwich, a city that has always been a key market for Leaders.
“It is also pleasing to be able to welcome the City Lettings staff to our team, all of whom will now be based at either our central Norwich or Cringleford branches.”
He added: “The Leaders Romans Group remains committed to growth in the coming months and I would encourage any business owners who are considering selling up to get in touch.”
Leaders’ acquisition of City Lettings comes just three weeks after the Leaders Romans Group acquired Penyards Property Management in Winchester and Prescott Hall in Chester.
Comments (2)
Their previous acquisitions in Norwich were sizeable too. This latest one must consolidate their position as the largest agent in that part of the world. However, large doesn’t necessarily equate with best and I would think a lot of the clients of City lettings will be looking to switch to one of the other independents before being subjected to the corporate mindset of customer comes last, profit comes first.
Sounds like the ambition that got Countrywide into trouble…buy and build and hope you don’t lose the goodwill with the change of culture! Buying at the top of the market, well done to those who have sold their business. Also sounds like this land grab is to try and make themselves look good for a stock market listing…bit late as the sector is out of fashion