Multi-branch Northern Ireland estate agency Quinn has bought a rival with a ‘six figure’ sum provided by Ulster Bank.
Quinn, which has branches in Downpatrick, Banbridge and Ballynahinch, has bought Banbridge-based Sawyers & Co. estate agency, significantly expanding its portfolio of rental properties and sales listings.
As well as its business, Quinn has acquired its high street branch and two residential apartments above it.
The acquisition comes just a year after the firm was founded by Jonathan Quinn (pictured, left), who is also the regional representative for Propertymark.
His agency has also launched a highly unusual service for his clients – apartments and storage facilities for home movers designed to give them somewhere to stay temporarily after purchase deals fall through or are delayed, but enabling them to complete on their existing home.
To this end, as well as the flats above the former Sawyers & Co branch, Quinn has acquired premises in Ballynahinch which features ground floor commercial space with potential for apartment accommodation and an abandoned bungalow, located to the rear of the property.
“Benefitting from on-site storage containers for large home appliances and possessions, the bungalow has undergone a renovation to accommodate short-term stays for homebuyers and sellers wanting to complete on the sale or purchase of their property to avoid the transaction falling through.
“It’s a unique service,” says Quinn. “Unless you’re a first-time or cash buyer, you’re likely to find yourself in a property chain that relies on the completion of successive property transactions.
“Often, there can be a break in that chain for any number of reasons that causes the sale of a property to ‘fall through’.
“We’re renting the property to our clients on a week-to-week basis to help ease the burden of sourcing temporary accommodation. It’s a service that has been extremely well received.”
Recent research estimated that fall throughs cost agents £4,000 each.