One of the UK’s leading independent estate agency chains Linley & Simpson has opened a new flagship branch in Hull at the former premises of the Link Agency group after buying the business’s local lettings portfolio.
The announcement follows its recent acquisition of another local lettings operation, this time the 500-property portfolio of Beercocks, which completed at the end of last year.
As well as its Hull acquisitions, Linley & Simpson has also announced the purchase of Leeds independent estate agency Dawson Wake.
This means the now 19-branch strong chain has a total lettings book in excess of 9,500 properties.
“After what’s been a challenging time for many businesses, particularly estate agents, we are thrilled to have started the ‘new normal’ on a positive note with these acquisitions,” says Will Linley, chief executive of Linley & Simpson.
“These acquisitions represent a clear signal of our strong confidence in the future of the lettings market as everyone adapts to life after lockdown.
“To have completed both deals so soon after restrictions lifted has given us an ideal platform on which to build, especially given the scale of pent-up demand that is now being freed up.”
These acquisitions are the 12th and 13th completed by the company since it won substantial financial backing from private equity investment fund LDC two years ago.
“Our appetite for targeted expansion has not been dampened by the lockdown – in fact it’s even stronger,” Linley told local media.
“As the industry moves out of lockdown, but straight into a series of other operational challenges, we see it as the ideal time to augment our business further.”