A Yorkshire estate agency has bought two long-established rivals as it continues on its acquisitions trail.
Linley & Simpson, which has a network of 11 branches across North and West Yorkshire, has taken over the entire portfolios of Minster Property in York city centre as well as the East Leeds specialists Heritage, based at Crossgates.
The deals – both completed for an undisclosed sum – will see all inherited properties merge into existing Linley & Simpson offices.
They take to six the number of acquisitions completed by Linley & Simpson since it secured a £1.8m funding package last year through Santander’s Breakthrough Programme – designed to support the owner-managed agency’s strategy for future growth.
“Both Minster and Heritage are long-established independent agencies like ourselves, and are well-known names and respected brands in the heart of their own communities,” said director Will Linley.
“We are delighted to acquire the property portfolios of both businesses – they form a natural progression for us, and our investment represents a further signal of our future confidence in the Yorkshire market.
“These extra homes we inherit will help us keep pace with an ever-increasing demand for properties to both rent and buy and inject more choice into the marketplace for tenants and buyers alike.”
The properties formerly managed by Minster, a dedicated letting agent based on Walmgate, will seamlessly transfer to Linley & Simpson’s new-look branch at Micklegate.
While those in the portfolio of Heritage, which operated both a sales and letting service, will be shared among Linley & Simpson’s four offices in Leeds as well as its branch in Wakefield.
When it launched in 1997, Linley & Simpson operated two offices and employed just six staff.
Now, having helped more than 100,000 people move into 40,000 homes, it employs 161 staff and has grown into a branch network that now extends to York, Harrogate, Ripon, Wetherby, Wakefield, Ilkley, Saltaire and four in Leeds.