Welsh auction business buys rental

Paul Fosh Auctions and Lettings has snapped up another property rental business and says it is eager to make additional acquisitions this year.

The Newport-based business, which acquired Everything Lettings in January, has now bought the lettings business of city-based John Newell Estate Agents.

The latest deal and the earlier one will see Paul Fosh Auctions and Lettings more than double the size of its lettings business.

The company now employs a total of 17 people at its headquarters in Newport with six concentrating solely on the expanding lettings side of the business. An increase in head count is expected to flow from the business acquisitions.

Paul Fosh, owner and founder, said: “The acquisition of the lettings business of well-established John Newell Estate Agents is a perfect fit for us as the business covers Newport and surrounding areas. The acquisition will allow our already very healthy lettings business to grow even further.”