Estate agent acquires student letting company
Wolverhampton estate agent Redstones has acquired student letting company Housemates, after securing finance from HSBC.
The move allows Redstones to enter the student letting/houseshare market for the first time.
Housemates, also in Wolverhampton, has been letting student properties since 2006 and has seven employees. Redstones plans to recruit four new members of staff.
Manj Singh, owner of Redstones, said: “We’re always looking to take the next step and it’s been an ambition of ours to expand into the student market for some time, which HSBC has now made possible. Our team at the bank completely understand our business goals and, along with the funding, provide us with great business advice.”
HSBC’s relationship manager in Birmingham, Dan Pawar, led the deal for Redstones and will continue to provide guidance as the company grows.
