The lettings arms of a major independent full-service Midlands estate agency has been sold for an undisclosed sum to software platform Dwelly with staff notified of the change yesterday.

Sheldon Bosley Knight (SBK) which is head-quartered in Coventry, has 13 branches across the Midlands and itself has been expanding fast in recent years via acquisition.

This sale will see continuity of business for landlords and tenants, with the acquired lettings business keeping the SBK name and staff.

“Rebecca Dean is staying on to lead SBK Lettings with the remainder of the lettings team also remaining in place to ensure that it’s business as usual for SBK Lettings landlords”.

An SBK spokesperson says: “Rebecca Dean is staying on to lead SBK Lettings with the remainder of the lettings team also remaining in place to ensure that it’s business as usual for SBK Lettings landlords”.

The lettings arm of the business which has a rent book of some £25 million, has been sold to Dwelly, which is an unusual property software firm distributing its tech via the acquisition of lettings books and whole firms.

SBK’s most recent filings to Companies House show that it turned over £11.2 million and made a post-tax profit of £770,000 last year.

Letting business

Dwelly is gaining a reputation among agents seeking to sell all or part of their businesses – and in particular lettings because other than embedding its tech into these agencies, they are largely left alone to operate independently as businesses.

SBK has a history stretching back to 1843 but that, through over a dozen acquisitions including during the noughties and more recently, has grown into a major player within the property industry. It has 170 staff, some of whom who are transferring to the sold business, which will continue to operate under the existing SBK brand.

Mike Cleary, who leads the SBK business, is also well known for – four years ago – launching a ‘local’ listings portal which he hoped would rival Rightmove called ‘we are the market’. He is to retain the commercial, resi sales and other aspects of the wider SBK Group, which also operates in the block management, new homes, rural services, surveys, auctions and planning sectors.

Sam Humphreys, Head of M&A at Dwelly, commented:

“We are delighted to welcome the lettings arm of Sheldon Bosley Knight into the Dwelly family,” he says.

“This is not only an acquisition of scale, but one of exceptional quality, bringing with it a heritage of over 180 years and a reputation that is deeply embedded across the Midlands and wider Cotswolds region.

“2025 has been a defining year for Dwelly. We have completed a series of strategic acquisitions across a range of key geographies, each one chosen for the strength of its local relationships, the calibre of its team, and the legacy it has built within its community. SBK Lettings is an outstanding example of this approach.

“Our focus has always been to partner with the very best independent agencies in the UK, preserving the culture and service standards that made them successful while equipping them with the technology and operational infrastructure to grow even further. SBK Lettings fits this philosophy perfectly.

“With this latest deal, we significantly strengthen our national footprint and are exceptionally well positioned for an ambitious phase of expansion in 2026.

“As always, our priority is to protect the identity and reputation of the businesses we acquire, while helping their teams deliver a more efficient, transparent and modern lettings experience for landlords and tenants.

“Importantly, this partnership is built on continuity, collaboration and long-term investment, and we look forward to working closely with the SBK Lettings team and wider Sheldon Bosley Knight Group for many years to come.”

Mike Cleary, Custodian of Sheldon Bosley Knight, says: “As custodians of a business with roots stretching back to 1843, we are ever mindful of the need to make the right choices with the book ‘Built to Last’ being one of our guiding lights.

“In May of this year, we met with Dwelly for them to explain their vision for the future of the Lettings industry.

“We didn’t expect to be amazed but were and so faced a difficult dilemma – keep ownership and battle on with an increasingly outdated software proposition, or give up ownership and in the process enable our team and clients to have a better future.

“Dwelly also stood out for its respect for heritage, its commitment to retaining local expertise, and its thoughtful approach to integrating technology without compromising what makes an agency successful. We were certain that they would enable SBK Lettings to carry on growing organically and through acquisitions as we have become accustomed.

“SBK has always been built on long-standing client relationships, deep community knowledge and a culture of professionalism that has set us apart in the Midlands market. Joining forces with Dwelly ensures that these values not only remain intact, but are strengthened with additional resources, innovation and operational support. We are confident that this partnership is the right decision and that being powered by Dwelly will enable the business to flourish.”