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TODAY'S OTHER NEWS

Franchise branch buys independent’s lettings book in just two weeks

Another independent agency has been acquired by franchise giant Martin & Co. 

The firm’s Southend franchisee purchased the managed properties of local independent Park Estates, taking the branch’s managed portfolio beyond 650 properties.

Branch owner Tony Lindberg has been with Martin & Co since 2001 having previously been an area manager in retail, looking after 22 shops.

He says: “This is our fifth portfolio purchase and was extremely pleasing as we managed the entire process in under two weeks.

“This purchase means we have the opportunity to introduce Martin & Co to brand new clients.”

Martin & Co Southend was supported by its parent organisation The Property Franchise Group during the acquisition process.

Martin & Co managing director Louise Griffiths says she wants more acquisitions in future.

“Martin & Co is always looking for potential acquisitions, so any independent lettings businesses thinking of selling their portfolios should speak to us as we have the funding and support network to complete on these deals quickly” she comments.

  • Paul Smithson

    Must have been cheap or fire sale ...how do you do full due diligence?

  • icon

    Doesn't say how many managed properties. If 100 maybe 80k if 500 maybe 250k. Who knows but what ever the price difficult times ahead for any letting agents unless they get their LLs fees right too high means no businesses means closed businesses.

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