North London, Beds and Herts-based independent agent Benjamin Stevens has acquired two management companies.

The ‘Block Management’ company, which falls under the Benjamin Stevens Estate Agents brand, will be taking over ‘My Estate Manager’ and ‘Herts Property Management Ltd’.

Both firms are small, independently run, like Benjamin Stevens, and are based in Hatfield, with blocks across Harpenden, St Albans, Welwyn Garden City and Hatfield.

The deals mean Benjamin Stevens Block Management will be adding a total of 844 properties, made up of a mixture of flats and houses across 29 developments.

Perfect acquisition

Both ‘My Estate Manager’ and ‘Herts Property Management Ltd’ wanted to stay loyal to their clients within their current portfolios, and to only work with a local independent company,

Ben Jarvis, head of block management services at Benjamin Stevens, says: “It was a perfect acquisition for us as we were already starting to take on new managements across Greater London, Beds and Herts.”

The owners of the companies will stay involved for a phased period of nine months, to ensure all onsite, financial and compliance handovers are fully completed.

For Benjamin Stevens, these purchases have seen it grow by roughly 25%, and allows it to target other developments and new builds.

Benjamin Stevens Block Management’s acquired nine developments with 162 units in Essex earlier this year.