A historic South Coast estate agency that has been trading since 1825 has bought a key rival as it looks to significantly expand its business.
Brighton firm PS&B – formerly Parson, Son and Basley – has bought the block management and property valuation business of rival Graves Jenkins for an undisclosed sum.
The acquisition does not involve any job losses, and staff from Graves Jenkins are to transfer to PS&B’s head office where the operation will be rebranded as GJ Survey & Management.
The remaining part of the Graves Jenkins is retained by its founder Phil Graves, which includes its commercial and estate agency arms.
Michael Barber (pictured) , a director of PS&B, told local media: “We are absolutely thrilled that the purchase of Graves Jenkins block management and valuation sectors has now completed.
“It is a move the company has wanted to make for some time and it is wonderful that we were able to acquire such a reputable and long-established brand to sit alongside PS&B.
“Our new GJ Surveying and Management arm will enable us to offer our existing and prospective clients an even larger team of staff who be solely focused on block management and valuations.
“This will mean PS&B can specialise in our other sectors to include professional services such as valuations, lease extensions, collective enfranchisement and general property management across the region.”
PS&B offers a range of services including rented accommodation, commercial property sales and lettings, auctions and professional services such as valuations, lease extensions, collective enfranchisement, and property, block or estate management.