Two young estate agents have acquired a big Hunters franchise in the North East of England from Nicola (pictured) and Iain Simmonds, who are retiring from the industry after 16 years spent growing their branch network.

The two new owners of the franchise covering Scarborough, Bridlington and Filey are Sam Lakin and Peter Croft (main pic).

Lakin started out in the industry in 2013 at Reeds Rains, joining hunters as an operations manager in early 2021.

Croft began his career in 2015 at London agency Morgan Randall, joining Hunters in July 2017 as a junior lettings negotiator and, following a brief spell at Linley & Simpson, joining his friend to acquire their Hunters franchise.

£24 million

Hunters is part of The Property Franchise Group (TPFG) following its acquisition for £24 million in January 2021, currently operates over 140 offices across England and Wales owned by franchise partners.

Jayne Twiddle, national operations director at Hunters, says: “The continued growth of our people is a core pillar of our business, with Sam and Pete embodying this ambitious spirit.

“We look forward to the continued success of the Scarborough, Bridlington and Filey businesses under new stewardship, building on the fantastic roots created by Nicola and Iain Simmonds

“Our franchise offer is market-leading, evidenced by the success and growth of our network. We welcome new franchise partners that share our vision, as well as continuing to support those already in the network with their growth ambitions.”

Bush adds: “This is an exciting next step in our careers and has been an ambition for some time now, having previously supported the growth of other franchisees.”