It has been confirmed that letting agency Underwoods Town and Country has been snapped up by Countrywide for a seven figure sum.
The deal is believed to have taken place last year but was announced yesterday by Watersheds business consultancy, which negotiated the acquisition.
Underwoods had been in operation in Northampton and Wellingborough for around 30 years, and 10 years ago was bought by Karen Southcott; it was more recently run with the assistance of Southcott’s daughter, Laura.
Both mother and daughter have now left the company; all remaining jobs at Underwoods are secure and Watersheds says the new owners want to develop the agency further.
David Fletcher of Watersheds says: “We've just sold the business for a seven-figure sum to Countrywide plc, a group turning over in excess of £700 million. It’s a personal success story for mother and daughter team Karen and Laura.”
Countrywide has let it be known for over a year that it wishes to extend its lettings activities, largely through the acquisition of independents.
Last month it announced the acquisition of Oxford-based lettings agency Finders Keepers; it has eight offices and 100 staff members plus over 2,400 properties on its books.
West Wales Home Rentals - part of an agency group set...
An East Midland lettings agency sold to Countrywide in what is...
We’re grateful to The Property Group, an agency in Weston-super-Mare, Somerset,...
Leaders has added another seven branches to its 110-plus network in...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
We’re absolutely delighted to announce that, after 10 years, we’re able...
You don’t have to simply accept things as they are when...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Jump to latest comment and add your reply
This deal was done and reported on many months ago. Keep up, Eye.
Please login to comment