Savills is on the acquisition trail again after a three-month gap following its purchase of Marlow, Buckinghamshire independent estate agent Granville Residential, taking its number of offices in the UK to 90.
The company last bought a rival when it snapped up single-branch agent Montague Evans Channel Islands based in Guernsey in January, and before that the purchase of the Smiths Gore mainly rural network of 31 branches for £40m in April 2015.
Granville Residential is a single-branch agent with a prominent branch position on the town’s West Street (pictured, above) and was founded in 1991 as a lettings-only specialist, like many of its kind it has subsequently gone on to offer sales too.
The purchase will add to Savills network of offices in the area including existing branches in Windsor, Henley-on-Thames, Beaconsfield and Amersham.
The purchase, Savills says, is part of push to invest in its lettings division, which is headed up by Jane Cronwright-Brown (pictured, below).
“The branch will be rebranding entirely as a Savills branch and all its customers have been contacted to let them know about the change-over the Savills brand,” she told The Negotiator.
“We are delighted to have completed on the purchase and very pleased to announce that the original team of five staff members will be joining Savills with immediate effect.
“The firm has a very well established lettings operation and its excellent reputation for advice and service dovetails perfectly with our ethos at Savills.”
Jane says Savills will be acquiring businesses like Granville as and when the opportunities arise.
Justin Marking, Head of Savills Residential, says: “This particular business also offers us the opportunity to increase our market share of sales in the Marlow area which has long been a target and I can see it working really well with our existing local offices.”