Acquisition of agency network, 60 staff and 1,100 let...

An agency has snapped up a substantial regional firm involving 60 staff, 1,100 properties under management, as well as commercial, new homes, auction and land divisions.

Sheldon Bosley Knight (SBK) has acquired Loveitts, a well-known Midlands-based agency currently operating from offices in Nuneaton, Leamington Spa and Coventry.

Loveitts was established in 1843 and has its roots in auction sales. In the 1960s it expanded, opening branches in Leamington and Nuneaton. In the following decades the business further to encompass residential sales and lettings, block and service charge management, land and new homes and commercial.

This week’s take-over sees the retirement of two of Loveitts’ long-serving directors - Peter Rosier, who has been with the firm for almost 50 years, and Kendall Head, the firm’s former principal auctioneer.

SBK custodian Mike Cleary says: “Loveitts is a high calibre, prestigious agency and so this is an extremely important and significant deal which will solidify our two brands as being a powerhouse in the Midlands. As well as sharing similar departments and the same birth date of 1843, we share the same values and ethos, so this is an excellent fit for both of us.

“I am also delighted the staff will be joining us on what I believe will be a very exciting journey. I am confident we will continue to provide an excellent level of service for all our clients in the Midlands and beyond.”

Loveitts director Sally Smith comments: “These are truly exciting times for all of us here in the Loveitts family as we now look forward to a bright new future as part of the Sheldon Bosley Knight group. The timing is perfect as we now look to really accelerate our growth, whilst still, of course, maintaining that personal trusted service our clients have grown to know and love.”

SBK, which celebrated its 180th birthday last year, now has more than 240 in-house staff in offices across Coventry and Warwickshire, Leicestershire, Worcestershire and the Cotswolds. The addition of Loveitts is the third acquisition for SBK this year, following that of Charles Saville in Stratford in February and Leicestershire-based lettings agency, Charles Kimbell last month.