North east of England agency My Property Box has acquired Newcastle independent Groves as part of its strategic growth plan.
All 12 staff will be retained and the firm - , which has over 30 years involvement in lettings, sales and property management - will continue trading under the Groves banner.
The acquisition is My Property Box’s seventh in three years, and follows the retirement of Groves founder Nick Rawlinson.
Ben Quaintrell, founder and managing director of My Property Box, says: “The acquisition, which brings with it an excellent portfolio of properties, enables this business to extend its reach in the north of the region. Groves has earned a reputation as one of most successful property companies across Tyneside and Northumberland, which it has achieved through its knowledge of the local market.”
Other recent acquisitions made by My Property Box, founded in 2012, include lettings agencies Westoe Lettings in South Shields, Richmondshire-based WardHorne and Bishop Auckland estate agent Lifestyle Property.