Long-standing lettings agency snapped up by high-end ...

Boutique Knightsbridge estate agency Nicolas Van Patrick (NVP) has acquired Chelsea lettings and management company HLR.

HLR was established in 1986, growing from a relocation agency to a residential letting and management company.

Its property portfolio covers Belgravia, Knightsbridge, Kensington, Holland Park, Chelsea, South Kensington and Mayfair.

This acquisition by NVP - co-founded by Nicolas Pejacsevich, Patrick Alvarado and Dutch businessman John Fentener van Vlissingen in 2014 - complements Hobart Slater, which it acquired in 2018.

The HLR team in its entirety will move into NVP’s Montpelier Street offices to ensure continuity for clients as HLR integrates into the NVP business.

NVP says it remains on the lookout for further acquisitions, and director Nic Pejacsevich says: “Over the years, it has become clear that to succeed in agency it is important not to be too reliant on the sales market, which can be sporadic and unpredictable.

“Subsequently, we have plans to grow the lettings side of the business and have been in the market for a while for a company with the same ethos and relationships that we have built with our clients at NVP.

“I had long heard about HLR’s highly-experienced and dedicated team and their success in the rental business. We believe this is the right fit for NVP and are excited to continue to build a foothold in Chelsea, an area we have long worked in and loved.

“We remain extremely passionate about maintaining the ethos of a boutique agency with a vision to build long-lasting relationships with clients, a view shared by Ginny and her team.”

HLR’s Julia Wiggins says: “Our established knowledge and experience of the lettings market in Chelsea, with long-standing clients who appreciate our personal touch, will continue under a different banner.

“While there are many large corporates operating in London, we passionately believe there is strong demand for a personal service-type of agency for those who want a hands-on service, which is what we continue to offer with NVP.”