Let Leeds has completed on the acquisition of Leeds-based Milnes Walker.
The move will welcome two additional members of staff to the Let Leeds team and will add a further 130 managed properties to the existing portfolio. This is the second acquisition in six months for Let Leeds, having completed on Let’s Go Professional back in August 2018.
“We have been anticipating the Tenant Fee ban for some time now and already had our strategy underway before its official announcement earlier this year” says Let Leeds MD, Luke Gidney. “We are excited to take this important step to establish an even wider presence in the Leeds market. There’s strength in numbers and by joining forces with other independents in Leeds, we believe we will have the muscle, talent and stability to weather the upcoming changes in the lettings market”.
Milnes Walker was looking for a new direction, following the retirement of one its Partners.
“Let Leeds is a perfect fit for us” says Joe Walker of Milnes Walker.
“It was really important for us to find a team of people that share our customer focused values and Let Leeds do just that. They are a progressive, independent company and continue our service-orientated approach, whilst also making use of the latest technology, and we are delighted to now be part of the team”.
The acquisition means that Let Leeds has an additional branch in West Leeds during the transition period, and the Landlords and Tenants will continue to be looked after by the original Milnes Walker team, to ensure as seamless transition.
At the end of the migration period, the branch will be consolidated into the Let Leeds Pudsey office, creating economies of scale and cost savings to ensure the business remains profitable through the fee ban that is scheduled to come into force on 1st June 2019.
Luke Gidney, MD of Let Leeds said, “By combining two existing branches into one, we can retain all employees, but importantly, also remove the painful duplication of overheads”. Let Leeds are exploring further avenues and would like to hear from other independent agents in Leeds regarding a potential merger or acquisition.
“I am looking for businesses that are the right ‘fit’ for Let Leeds and am keen to retain all employees in any acquisition so that, together, we can continue to deliver an excellent service to the combined client base”.
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