An independent has snapped up a long-standing market rival in its ninth acquisition in 12 months.
Linley & Simpson, in Yorkshire, has acquired Flemings and its rental portfolio of over 330 properties.
The acquisition, for an undisclosed sum, brings Linley & Simpson’s branch network to 16, employing over 230 staff and managing almost 7,000 rental homes.
Linley & Simpson, launched 21 years ago, will now have an office in Pudsey, which chief executive Will Linley described as a “bullseye location”.
He said: “It was a long courtship – we first approached Flemings eight years ago – yet we are delighted that when it was decided the time was right to sell, they still had our original letter close to hand.
“This represents our first acquisition of 2019 and we expect others to feature in the coming months. We have confidence in the potential of the Yorkshire market and an appetite to continue to invest in it.”
Linley & Simpson has 16 branches under its own name, plus four branches operating under the Dale Eddison brand after that business was acquired last November.
Flemings dates back over 50 years. All its staff have been taken on by Linley & Simpson as it continues its ‘buy and build’ strategy.
Comments (2)
I don’t recognise estate agency anymore. Lettings used to be the thing rubbish estate agents did. Now it’s the only way to survive. No justice
Lettings is much harder than estate agency, but its the only one that I would do if I was setting up on my own next week. Estate agency is feast or famine. Lettings has a much steadier income.