Nick Dunning Associates’ central and East London agency Stirling Ackroyd has bought competitor Bridge Estates for an undisclosed sum, its third acquisition this year following letting agency Lourdes and My London Home.
Shoreditch-based Bridge Estates recently celebrated its 25th year in business as a full-service estate agency and is led by Managing Director Tom Mulligan and Arvinder Padda, who is also a director.
The purchase is part of an aggressive expansion plan by Stirling Ackroyd which it expects to triple the size of the business over the next couple of years.
Following the acquisition, all Bridge Estates’ staff will be transferred to Stirling Ackroyd’s nearby flagship office, also in Shoreditch.
New homes team
The Bridge Estates brand will be subsumed into its new parent company but not disappear entirely, reflecting the strength and reputation of both its commercial division and new homes team, the latter headed up by Lucy Phipps (left), as well as a property management book of 200 units.
The two recent acquisitions by Stirling Ackroyd before Bridges Estates, Lourdes and My London Home, were rebranded entirely.
“I am very much looking forward to working with Lucy in delivering accelerated growth in our burgeoning new homes business at Stirling Ackroyd,” said Vince Corley, CEO, Stirling Ackroyd (right).
Tom Mulligan says the acquisition is a “key milestone in the journey for Bridge Estates”.
“The acquisition provides the Bridge Estates team with greater opportunities and a greater range of services to offer clients.
“We are delighted with how the process has gone and pleased to be working closely with the teams at Stirling Ackroyd and Nick Dunning Associates.”