An ambitious business duo have revealed that they plan to become players within the London prime estate agency market following the acquisition of their first business, Winkworth’s long-standing branch in Shepherd’s Bush.
The purchase of the business is from 51-year-old Carl Burgess (pictured, below), who began his property career at the high street branch as a negotiator before moving through the ranks to become a partner and in 2012 its director and owner.
He has now sold the business to Rupal Patel (above, left), 40, and his IT expert and business partner Ravi Patel (above, right), 39, for an undisclosed sum, although company records indicates that it turns over approximately £2.5 million a year. Burgess is to remain with the business as a consultant.
Rupal Patel, who is already a director of a prime residential estate agency in Mayfair and a jewellery firm, has over 20 years’ experience in property. This includes stints with Savills, Goldschmidt & Howland and Ellis & Co.
He and business partner Ravi say the acquisition of Winkworth’s Shepherd’s Bush and Acton branch is the culmination of their long-held ambition to own and run their own property business, backed by the support of the Winkworth network.
Rupal says: “Carl has built up an incredible business and we are delighted to be able to continue working with him.
“Ravi and I are looking to acquire more offices in key locations, and we are very excited to be starting with such a successful office.”
Burgess adds: “I have worked hard to develop the business to reflect my core principles: honesty, ethics, hard work and delivering value for money for our clients.
“Finding a suitable replacement to hand over the baton has been a challenge.
“It was important to find like-minded individuals who would continue with the ethos of the business, while developing and modernising. I am pleased that Ravi and Rupal not only want to do this but also want me to continue to work with them, contributing to the long-term success of the Shepherd’s Bush office.”