The shakedown within the property industry continues apace with two agencies snapped up by rivals on the same day.
These are Seel and Co, one of Wales’ oldest independent estate agencies which has been acquired by rival Jeffrey Ross, and Hunters, whose Exeter branch has bought local firm Forte Lettings & Property Management Limited.
Both announcements were made late yesterday, and point to the accelerating rate at which estate agencies are consolidating.
Seel & Co
Cardiff-based Seel & Co was established in 1898 by the great great grandfather of current Managing Director Tony Seel, who is to stay on at the firm as a consultant ‘for a period of time’ along with its 22 other employees.
“For some time now I have been contemplating the next stage in the development of Seel and Co and I am delighted with this outcome,” Tony told local media.
“Finding the right match for Seel and Co hasn’t been an easy task but I believe that in Ross we have found a person whose values and approach to business mirror those of our own. I am looking forward to seeing Seel and Co move forward and grow.”
The other sale is Exeter firm Forte Lettings & Property Management Ltd, which has been sold to Hunters by its founder Kim Forte, who established the agency five years ago.
“Due to changes in Kim’s personal circumstances, with the welcome news of a family addition, Kim decided to sell the business whilst at the same time agreeing to join Hunters in order to ensure continuity of customer relationships and optimum service,” a statement from Hunters says.