The Let Leeds agency has completed on the acquisition of another firm in the city, Milnes Walker - and the purchase is part of a strategy to combat the Tenant Fees ban.
The move will see two additional members of staff join the Let Leeds team and adds 130 managed properties to its portfolio; this is the second acquisition in six months for Let Leeds, having completed on Let’s Go Professional last August.
“We have been anticipating the Tenant Fees ban for some time now” says Let Leeds managing director Luke Gidney.
“There’s strength in numbers and by joining forces with other independents in Leeds, we believe we will have the muscle, talent and stability to weather the upcoming changes in the lettings market”
The acquisition means that Let Leeds has an additional branch in West Leeds during a transition period, with landlords and tenants looked after by the original Milnes Walker team. At the end of a migration period, the branch will be consolidated into the Let Leeds Pudsey office.
“By combining two existing branches into one, we can retain all employees, but importantly, also remove the painful duplication of overheads” explains Gidney.
Now Let Leeds says it’s on the acquisition trail for other appropriate agencies.
“I’m looking for businesses that are the right ‘fit’ for Let Leeds and am keen to retain all employees in any acquisition so that, together, we can continue to deliver an excellent service to the combined client base”.