A lettings agency duo have bought a rival adding 150 managed properties to their business, their fifth acquisition since joining group The Property Franchise Group (TPFG) in 2008 and taking their total portfolio to over 1,000 properties.
Husband and wife team Peter and Rani Grieve have acquired Allan Morris Lettings in nearby Droitwich, whose property portfolio are in seven different local towns including Droitwich, Redditch, Bromsgrove, Kidderminster and Stourport.
This latest acquisition by the Grieves is part of TPFG to encourage its franchisees to expand geographically within its network which includes Martin & Co, CJ Hole and Ewemove.
“Seeing our franchisees embrace our growth strategy is very exciting and underlines the fact that, despite the current challenges, opportunities exist and we are hungry for more,” says Kate Toland, MD of Xperience, who operates the CJ Hole, Whitegates, Ellis & Co and Parkers brands within TPFG, which has 375 branches in total.
The company’s franchising chief Penny Sanders adds: “Congratulations to Peter and Rani on yet another acquisition. If you are thinking of selling your business, please get in touch with us in confidence. We have a growing list of franchisees keen to follow the Grieves’ example.”
Peter Grieves works as a senior manager in commercial property lettings before becoming an estate agents, while Rani worked as a customer services manager.