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New ‘northern powerhouse’ as Manning Stainton buys Ryder & Dutton

Deal backed by HSBC is for an undisclosed sum but creates 40+ branch agency grouping covering Yorkshire and Lancashire.

Nigel Lewis

ryder dutton

Two of the UK’s best-known estate agency brands in the north of England have joined forces.

Yorkshire estate agency Manning Stainton has acquired Lancashire firm Ryder & Dutton, creating a 40-plus branch company that both organisations describe as a new ‘northern powerhouse’ covering Leeds, Manchester and other key housing markets across West Yorkshire, East Lancashire and Derbyshire.

This employ some 450 people and retain both estate agency’s senior management team.

The deal, which has been financed via HSBC, will be organised through the existing Northern Estate Agencies Group, which also owns the Mortimers Estate Agents business acquired four years ago.

The three businesses within this group now have a turnover of nearly £25 million, and Mark Manning (main pic, right), who takes up the new role of Group MD, says Manning Stainton and Ryder & Dutton have ‘much in common’.

“Both are home-grown and well established in our respective regions, with shared core values,” he says.

“The value in the estate agency industry is within its people, and combined, we have the best people in the business.

“One of the core principles of the enlarged Group is to respect the heritage and reputation of each of the brands, whilst we make the most of this landmark opportunity to bring all our strengths, skills and intricate knowledge of the regional market under one roof.

Powerful combination

“Strategically, this is a powerful combination, and our senior team is set on delivering our plan to improve and further dominate the estate agency industry in the north.”

Ryder & Dutton’s managing director, Richard Powell (main pic, left), adds: “This is the coming together of two like-minded businesses who can really move the Northern estate agency sector forward and take more market share in each region. We’re building our businesses while retaining our successful local approach.

“We both pride ourselves on unrivalled local knowledge and great customer service, and we’ve admired and respected each other’s work and approach for many years. Forming an enlarged Northern Estate Agencies Group made sense on every level and, demonstrates our confidence in the growth of our industry.”

Both Manning Stainton and Ryder & Dutton have Auction House and Fine & Country divisions, which will remain.

August 18, 2021

One comment

  1. It is interesting again that the value of estate agency businesses are seen to be its people, yet a deep analysis suggest 40% of agents move job every 18 months. Certainly the critical mass of these businesses knitting together seems a great venture, and I wish them well.

    But with technology eating up processes within real estate – are physical branches with large core staff the future? I ask this as the property consumer is increasingly ‘doing property’ via the prism of their mobile, rather than looking through the plate glass window of an estate agency branch.

    Strategically a great time to do a deal with transaction levels at an all time high (apart from 1988) supporting optimistic valuations for the business, but the fickle housing market always proves to be well fickle, and 2022 is not going to be 2021 on repeat.

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