Lettings agency buys two more rivals in latest expansion move
North East-based agency My Property Box buys John Prest, which is nearly 100 years-old, and Landlords 2, to make it 12 acquisitions in just six years.
Fast-growing estate agency group My Property Box has expanded again with the acquisition of two well-established lettings firms.
Retirement of key directors at North Yorkshire-based John Prest and Landlords 2 in Darlington, prompted the decisions to sell up. The acquisitions add more than 450 managed properties to My Property Box’s portfolio.
Cash injection
The firm, with offices in Darlington and Newcastle, secured a multi-million pound cash injection from capital investor BGF to help finance the latest expansion.
The acquisition of John Prest is the 12th in six years, and further solidifies My Property Box’s position in the North Yorkshire market.
It follows the retirement of directors John Prest and his son Mark. The office, situated on Northallerton’s High Street will be retained, together with its brand and current staff of two. Clare Bopari, an experienced manager at My Property Box will oversee the operation.
Similarly, the deal involving Landlords 2 was prompted by the retirement of long-serving director Tim Haigh. Its Coniscliffe Road office in Darlington has now closed, and all services fully integrated into My Property Box.
These acquisitions are an important part of our strategy to strengthen our market presence.”
Ben Quaintrell, Founder and CEO of My Property Box, says: “These acquisitions are an important part of our strategy to strengthen our market presence across the North East and North Yorkshire.
“Both John Prest and Landlords 2 have a long-standing reputation for delivering excellent service, and we’re excited to build on these foundations.”
John Prest was founded in Northallerton in 1926 by W.L. Prest Senior and his wife, the business initially operating from Kelvin Terrace. In 1932, it relocated to its current premises at 65 High Street. John Prest says: “Our family has proudly run this business across four generations, but after thoughtful consideration, we believed it was the right time to pass the baton.”
Picture caption: Left to right – Mark and John Prest with Ben Quaintrell and Clare Bopari outside the Northallerton office that will continue to trade under the John Prest brand.
