Fast-growing letting specialists Linley & Simpson has added over 600 homes to its portfolio after another major acquisition.
It’s acquired the lettings and management division of Dacre, Son & Hartley, the 200-year-old independent Yorkshire estate agent which operates a network of 20 branches.
The deal will now see Dacre, Son & Hartley concentrate on sales, land and new homes, commercial agency and property management.
The deal, completed for an undisclosed sum, is the seventh struck by Leeds-headquartered Linley & Simpson since the outbreak of Covid-19.
It takes its rental portfolio to almost 12,000 properties across its 22 branches in Yorkshire and the Humber.
Chief executive Will Linley, says: “This represents an inch-perfect geographical and business fit. Our branches share the same footprint as those of Dacre, Son & Hartley, so this injection of properties will dovetail seamlessly into our network.”
He adds: “Other acquisitions are being primed, enabling us to set up in new locations and scale up in existing ones at pace in the New Year.”
Patrick McCutcheon, head of residential at Dacre, Son & Hartley, comments: “Drawing upon the skills of our team of 145 people, we are now looking forward to expanding and investing further in our core strengths in residential sales. It will also enable us to further develop the potential of our other property services including our nationally renowned healthcare investment business
“The residential letting sector is becoming increasingly specialised amid ever-growing regulatory and compliance changes. Transferring our rental portfolio to an agency with a dedicated letting specialism, like Linley & Simpson, is a natural step - and our former tenants and landlords will be in trusted hands.”
The main Dacres business areas will now receive additional investment in IT and staff and franchisee recruitment to expand further.
Founded by Will Linley and fellow director Nick Simpson in Yorkshire in 1997, Linley & Simpson has grown from two offices and a handful of staff to a network of 22 branches across Yorkshire and the Humber and a team of more than 260.