A residential sales and letting agency has continued its expansion in its Yorkshire heartland by completing another acquisition.
Linley & Simpson, which has a network of 10 interlinked offices across West and North Yorkshire, has taken over the rental portfolio of Leeds Lets, who managed properties across the city from its headquarters in Headingley.
The acquisition is the first since the independent agency secured a £1.8 million funding package as part of a new link-up with Santander’s Breakthrough Programme to help accelerate its strategy for future growth.
The deal – completed for an undisclosed sum – will see the former Leeds Lets portfolio merge into Linley & Simpson’s established offices in Horsforth, Roundhay and Swinegate in the city centre.
Founding director Will Linley said: “This year – our 18th – will be marked by a planned programme of growth to strengthen our position as one of Yorkshire’s leading sales and letting specialists.
“The acquisition of Leeds Lets is a natural progression for us. Its portfolio of properties that we have inherited form a natural ‘fit’ for our three branches covering the most sought-after places to live in Leeds.
“We remain on the lookout for more acquisitions in 2015 as we explore ways of consolidating our position at the forefront of best practice, customer service and innovation in a thriving sales and letting market.”
Linley & Simpson plans to use the new funding to double the size of its business over the next three years through the acquisition of letting agencies to expand their branch network and continue to develop their sales service.
The announcement of this new funding package caps another successful year for the business in which it has been honoured by The Sunday Times Lettings and Estate Agency of the Year Awards for the fourth consecutive year, most recently for its eye-catching 2014 marketing campaign featuring the iconic yellow Tour de France Jersey on advertising boards around the region.
Santander’s Breakthrough Programme aims to support fast growing owner-managed businesses, to help them fulfil their potential. As well as funding from a dedicated £200 million growth capital fund, the programme offers companies access to trade missions, business masterclasses, networking events, graduate interns and support in areas such as finance and marketing.