Specialist lettings agency completes second acquisition in six months

Specialist lettings agency Let Leeds has completed on the acquisition of Milnes Walker, an independent sales and lettings agency also based in Leeds.

As a result of the deal, two additional members of staff will join the Let Leeds team and a further 130 managed properties are set to be added to the existing portfolio.

Let Leeds will oeprate 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.

Once the migration has been completed, the branch will be consolidated into the Let Leeds Pudsey office, which the agency said will “ensure the business remains profitable through the fee ban that is scheduled to come into force on 1 June 2019.”

Luke Didney, Let Leeds managing director, said: “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.

“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.”

This is the second acquisition in six months for Let Leeds, having purchased Let’s Go Professional back in August 2018.

Joe Walker of Mines Walker said: “Let Leeds is a perfect fit for us. 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”.

Gidney added: “By combining two existing branches into one, we can retain all employees, but importantly, also remove the painful duplication of overheads”.