Acquisitions take agency past 5,500 managed properties milestone

Yorkshire estate agency Linley & Simpson has completed a hat-trick of acquisitions taking its letting portfolio past the milestone of 5,500 managed properties. 

The agency has taken over Mint Property in York; Acorn Estates, which had two offices in North Leeds; and an undisclosed agent based in Leeds city centre.

The deal with Mint marks a “back to the future” double for both companies – Linley & Simpson had previously acquired its Leeds city centre property portfolio seven years ago.

Meanwhile Acorn, founded in 1993, is one of the longest-established agencies in Leeds.

Director Will Linley, who founded his company in 1997 with Nick Simpson, says: “The letting sector faces an unprecedented set of challenges from all fronts - from growing red tape to the looming tenant fees ban.

“As the market consolidates as a natural response to this, both at pace and at scale, we view this as a real window of opportunity for us.

“We believe there will be more and more agencies looking to call time on their growing struggle to overcome these challenges, and the money and infrastructure this requires to succeed.”

The trio of deals – each bought for an undisclosed sum – was financed through internally-generated funds. It will result in more than 350 properties switching to Linley & Simpson.

The latest deals take to 30 the number of acquisitions undertaken by Linley & Simpson since it first opened its doors as a lettings agency 21 years ago.