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TODAY'S OTHER NEWS

Husband and wife agency owners start search for lettings firms to acquire

A Derby-based agency says it’s on the acquisition trail and seeking lettings operations to take over.

Birchover Sales and Lettings - led by husband and wife team Carl and Lisa Bridge - is reported by Business Insider to have had a record start to 2018 with more revenue generated than in the whole of last year, mostly thanks to its role as sole agents selling at a Nottingham student scheme called The Laceworks. 

“All 222 apartments at The Laceworks sold within 10 weeks and on one January day alone, we achieved revenues equivalent to 80 per cent of our 2017 total revenues. We are in advanced talks with developers in Derby, Nottingham, Birmingham, Manchester and East Anglia to represent them on similar deals” says Carl Bridge. 

“We have been in serious negotiations with three separate lettings agencies in the East Midlands, but not quite managed to agree a deal yet. We are actively looking to purchase letting agencies – especially in Derby and Nottingham – and this is a core part of our growth strategy. We have the funds, infrastructure and team ready and able to integrate another business into our own and have made significant upgrades to our software in readiness for the rapid expansion” he has told Business Insider.

“Our new head of property now accompanies the marketing team when assessing all new properties. We will only take them onto our books if they are in pristine condition or if the landlord commits to ensuring any improvements are made prior to us marketing the home. The lettings agencies we have been talking to do share this passion too, which is the only reason that we entered into discussion with them.”

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