A four-branch lettings agency with hundreds of managed properties has been acquired by a businesswoman who until now has had just 33 units to look after. 

Sara Watkins-Schmindt has acquired the Complete agency, which covers the Devon towns of Bovey Tracey, Newton Abbot and Teignmouth, plus the new Cranbrook suburb of Exeter.

The acquisition takes her managed portfolio from 33 to 408 properties – and she takes over Complete’s 20-plus workforce as well. 

She says she plans to build on Complete’s existing presence across Devon, with a focus on growing both its residential sales and lettings operations.

“Complete was exactly the type of business I was looking for. It has an experienced team, established branches and a really strong local reputation.

“I’m local myself and one of the things that stood out was the focus on personal service. There was already a lot working well within the business, so this isn’t about coming in and changing everything.

“The Complete name is staying, the branches are staying and the existing team is staying. 

“Residential sales is an important part of the business and something both the team and I are passionate about. Our focus now is on building on Complete’s previous achievements, increasing our reach across Devon and growing both sales and lettings.”

Watkins-Schmindt has a background in sales and marketing and became a business owner in 2022 following redundancy. 

She launched her own lettings business as a Sourced Living franchisee in spring 2024, growing her managed portfolio organically to 33 properties before completing the acquisition.

The acquisition was completed with the backing of Sourced Living, part of Sourced Property Group.

Sourced founder Stephen Moss says: “There is an interesting dynamic developing in the agency market. You have established owners who have spent years building successful businesses and are starting to think about succession and what comes next.

“At the same time, there are ambitious operators looking for opportunities to scale, and acquisitions can provide a way of doing that much more quickly than organic growth alone.”