Countrywide invests £25m in rental market
Its presence has been expanded in Cambridge, Hampshire, Manchester, Kent, the West Country, Nottingham, Worcester and South West London.
Over the past six years Countrywide invested £60m in acquiring over 70 lettings businesses throughout England and Scotland, adding over 320 branches to its lettings network.
Nick Dunning, group commercial director of Countrywide, said: “The acquisitions we have made so far in 2014 are in line with our selective acquisitions strategy, which is on target to deliver circa 25 acquisitions by the end of this year.
“These acquisitions significantly increase our regional footprint and fill in the geographical gaps in our portfolio. Current market conditions offer ongoing opportunities to acquire lettings businesses and scope to enter new markets as well as expand our presence in existing markets.
“This is an exciting period for Countrywide and the growth of our lettings operation continues to be a major focus as it remains a key income driver for the group.”
Countrywide started the year by acquiring Tucker Gardner in Cambridge, Personal Homefinders in Hampshire and Curtis Bains in Manchester.
It then acquired Milton Ashbury in Kent, NCT in the West Country, Jayne and Moss in Torquay and APW in Surrey.
John Hards, managing director of Countrywide Residential Lettings, said: “Countrywide has a unique ability to grow businesses by ensuring they operate autonomously, retain their local heritage and benefit from Countrywide plc’s ongoing investment and support.
“For clients, Countrywide plc’s structure, scale and all-round property expertise enables it to best serve the needs of clients of all sizes; from private landlords to corporate investors.
“In line with our expansion strategy, we are very interested in talking to professional agents with single or multi-branch businesses almost anywhere in the UK.”
Further acquisitions include Jonathan Reese in Romsey, Nest in Nottingham, Regal in Rainham and Sittingbourne, The Flat Managers in Cheltenham, Griffiths Charles in Worcester, Holmes Pearman in Basildon and Billericay, Duck and Hedges in South West London, Let Lucas in Banbury and Thomas James in Nottingham.