The wave of regional mergers and acquisition continues apace following block management firm Seraph’s acquisition of Welsh estate agency Nuttall Parker for an undisclosed sum.
Single branch, Newport-based Nuttall Parker joins another Welsh agency within the Cardiff-based block management group structure, two-branch James Douglas Sales & Lettings.
Seraph has its HQ in Cardiff and is a significant player in the Welsh block management scene but also has operations in London, Cardiff, Bristol and Hampshire.
“This strategic deal is an incredibly exciting one for our business as we look to branch our sales offering further afield from our Cardiff-base and support the already extensive managed property portfolio we have in the area,” says Seraph’s MD Douglas Haig (pictured).
“Newport is a fast-growing city and we are seeing a mini-housing boom in the area.
“It is one of the UK’s fastest-moving property markets with house prices having risen 36 per cent since 2015. We have long-standing roots in Cardiff, the Vale of Glamorgan and RCT and with this acquisition, we are well-placed in the heart of the vibrant Newport housing market.
“When the opportunity came up with Nuttall Parker, it was the perfect fit and ideal acquisition to build on our presence in the area.”
Nuttall Parker will remain in Newport with all staff retained and Lesley Woodsford-Lloyd managing (top, third right) the day-to-day running of the business as associate partner, with former director Leigh Edwards staying on in a consultancy capacity.
She says: “Being part of the Seraph Group means the team will be supported by a wider property network that benefits clients from its enhanced range of services; including sales, lettings, property management and block management.”