Third lettings agency snapped up by fast-growing PropTech platform

Third lettings agency snapped up by fast-growing PropTech platform


Todays other news
Virtual boards appear on screen - tap one and you...
The comments come from high profile agent David Alexander...
This is according to data consultancy LonRes...
The analysis comes from a brokerage platform, Acre...

Fast-growing lettings PropTech platform Dwelly has acquired its third lettings agency, this time with 550 properties under management. 

The acquired agency is Pennington, which has operated for some 30 years in Suffolk. Its management portfolio of 550 units will now be integrated into Dwelly’s lettings and management platform.

Dwelly already had a 1,500-unit portfolio following its purchase of agencies in Yorkshire and Essex. 

A spokesperson for Dwelly comments: “We have continued to take an extremely selective approach when it comes to the businesses we acquire and this allows us to honour the legacy of these independent business owners who have poured years of effort, care and investment into building market leading agencies within their respective local markets. 

“These are businesses that have been nurtured and developed over years, or in Pennington’s case, decades, and you simply can’t replicate the company culture that is central to this success and so, when we do find it, we place a great deal of emphasis on maintaining it. 

“At Dwelly, our role is to build on the strong foundations built by local owners, supporting them by simplifying operational tasks and improving how tenants and landlords interact with the agency, making everything easier, faster and more transparent.

“By the end of 2025, we are committed to achieving the goal of managing over 10,000 properties under Dwelly’s management, while staying true to our principles and people-first approach, and we’re well on the way in reaching this goal”

And Julian Pennington, owner of Pennington, adds: “The decision to be acquired and who to choose isn’t one that comes lightly, but it soon become clear to us that Dwelly was by far the best option for our business not just in terms of the operational benefits and growth potential they provide, but also to ensure that the culture we’ve built continues to be nurtured. 

“Working with Dwelly gives us the opportunity to modernise our operations and enhance the service we provide to both our landlords and tenants. Their approach to integrating technology into the lettings process will help us improve efficiency while still maintaining the values we’ve built over the years.” 

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Virtual boards appear on screen - tap one and you...
Zoopla says it’s reached 4.5m subscribers to its MyHome feature...
Creartors call it ”a revolutionary online business valuation tool for...
A so-called ‘compliance wallet’ is being launched in September...
It now progresses to the so-called Report Stage....
The House of Lords committee stage now continues until May...
Richard Donnell is a leading lettings market analyst...
Recommended for you
Latest Features
Virtual boards appear on screen - tap one and you...
The comments come from high profile agent David Alexander...
Sponsored Content
With less than a month to go until the UK...
The UK government has implemented 16 financial sanctions rule changes...
The owners of the Rentman software application (for property Lettings...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here