Acquisitive estate agency swoops for independent York firm
An estate agency has completed the biggest acquisition in its 21 year history after snapping up a York independent agency.
Linley & Simpson, which operates a network of 11 branches across North and West Yorkshire, has strengthened its presence in York by taking over the fellow long-established independent Coalters.
The seven-figure deal was completed with the support of continued acquisition finance provided by Santander’s Growth Capital team, based in Leeds.
It extends its total lettings portfolio across Yorkshire to almost 6,000 homes and will open up further opportunities for its specialist land and new homes department as developers eye up York in ever-increasing numbers.
The deal represents the 31st acquisition that Linley & Simpson has completed since it first opened its doors in 1997, and the fourth in the last two months alone.
Director Will Linley said: “We are delighted to acquire an agency of the size, stature and reputation of Coalters into the Linley & Simpson family. It’s a tailor-made fit.
“This represents a game-changing move for us as we accelerate our ‘buy and build’ plans, designed to consolidate our position in the Yorkshire market. It propels us, as well as current and future clients, into an exciting new era.
“We have ambitious plans to develop, improve and innovate our business and, strategically, this acquisition is central to this continuing journey of planned growth.
“There are few areas in the UK that command the popularity that Yorkshire continues to enjoy and we can only see this momentum accelerating to keep pace with demand. This acquisition signals our confidence in the county’s future – and investing in it.”
Dan Houman, Relationship Director at Santander Corporate in Leeds, said: “We are thrilled to play a key role in turning into reality this next major stage of expansion for Linley & Simpson.
“It puts the agency in prime position to fast-track the development of client services and capitalise on the opportunities that lay in front of it in an improving Yorkshire property market. The next 12 months promise to be another exciting year for the business.”
Two months ago, Linley & Simpson acquired another York agency – Mint Property – as part of a trio of acquisitions of independent Yorkshire agencies.
When it launched 21 years ago, it did so with just two offices – Horsforth and Roundhay – and a handful of staff. Now, following its latest deal and the transfer of Coalters staff, it employs more than 180 people.
The agency – which has helped around 100,000 people move home since it launched – is also on the move itself following the latest deal. It is relocating from its York city centre base in Micklegate to the bigger offices previously occupied by Coalters in nearby Low Ousegate.
In addition to Santander’s Growth Capital team, led by Ash Chopra and Dan Houman, who were advised by Georgina Tripp of Gunnercooke, Linley & Simpson was assisted in this latest deal by Simon Morris, Head of Corporate at Raworths in Harrogate; and Paul Land, Managing Partner of TLP chartered accountants, also of Harrogate.
