A seven-figure deal to sell a lettings agency has been described as a major “success story” for a mother and daughter team and Swindon firm Watersheds.

Ten years ago, Karen Southcott wanted to buy a residential letting agency. She approached Watersheds who found and negotiated the purchase of Underwoods in Northampton.

Now Watersheds has completed a deal to sell Underwoods Town and County, which also has a branch in Wellingborough, to Countrywide.

Karen said, “My daughter, Laura, joined the business and we have worked very hard to build it up.”

Laura added, “When I had a baby nine months ago, my priorities changed. I wanted to be a mum, not a director and now Karen can retire and concentrate on being a granny.”

David Fletcher, a partner in Watersheds, said, “Today is a big day. We have sold the business for a seven-figure sum to Countrywide plc. It is a personal success story for Karen and Laura, but also for Watersheds; it is incredibly satisfying to help a client buy a business, build it up and then sell it not just for much more, but also at twice the multiple.”