Two Northwood franchisees have expanded their lettings portfolios through the acquisition of independent businesses.
Helen Elworthy, owner of Northwood Doncaster, has acquired Galley Properties Ltd, adding 324 managed and let only properties to her portfolio.
“This was quite a large acquisition, which resulted in an overnight 50% increase in the size of our lettings portfolio,” said Helen. “Over the years I’d built up a friendship with the previous owner of Galley Properties and when she decided to retire, I think she realised that Northwood Doncaster would be a great fit. This acquisition is mainly a lettings portfolio, and we are retaining all five team members, who have moved into the Northwood Doncaster office.”
The second franchisee to complete on an acquisition is Heidi Gill, Director of Northwood Nottingham, who has acquired the lettings portfolio of Broadgate Nottingham. “This was our second acquisition in two years,” commented Heidi. “Although it is quite a small acquisition prior to the one we did in 2020, it appealed to us because it is a lettings portfolio, the owner was retiring and the due diligence was good.”