The buying and selling of lettings agencies has been continuing apace despite the Coronavirus crisis, says leading consultancy Adam J Walker and Associates.
Its founder Adam Walker says this is particularly true of letting agencies, who investors see as more attractive because the income lettings and property has proven to be very resilient during the lockdown.
He has helped three letting agencies find buyers over the past ten days. These are Daisy Lets in Maidstone, SD Lambert in Upton on the Wirral and Whites of Fareham, Hampshire (pictured).
“COVID-19 caused a few obstacles but nothing we could not overcome,” says Julie Drake, the broker handling the three sales on behalf of Adam J Walker and Associate.
“Income from lettings and property management has proved to be very resilient.
“Buyer demand and values have held firm and we expect to be able to announce several more sales soon.”
“We had four parties competing on the purchase of Daisy Lets in Maidstone which was sold to [local competitor] Seekers.
Adam Walker (left) says: “While the market for good managed letting businesses is still strong, there is not as much demand for residential sales businesses at the moment, but we do hope that this market will recover soon.
“We have agreed two more sales during lockdown, one which will complete at the end of July and the other in September.”
Adam J Walker and Associates is a business transfer agent and management consultancy which have specialised in the property sector for over thirty-five years.