Connells completes acquisition

SKIPTON Building Society’s estate agency subsidiary Connells has announced a £16.4m acquisition.

The Connells Group has acquired Welsh estate agency Peter Alan, which has 26 branches across Wales, from Principality Building Society.

Bedfordshire-headquartered Connells, which has more than 510 branches nationwide, has already acquired five local estate agency and lettings businesses since the start of the year as part of an ongoing programme to expand the group’s network. Peter Alan will continue to trade under its existing brand with the existing managing director Andrew Barry reporting to Connells Group chief executive David Plumtree.

The deal will also see valuation panel management and chartered surveying company Connells Survey & Valuation awarded a long-term contract to deliver  services to Principality Building Society. This will include the Principality’s chartered surveyors and associated staff joining Connells Survey & Valuation, which already employs 400 people.

The Leeds office of DWF acted for the Connells Group with a team led by Jon Marriott, corporate associate, including Emma Roe, commercial partner, who acted in relation to the outsourcing agreement.

Plumtree said: “The Connells Group has very ambitious plans and we are delighted to welcome such a strong business as Peter Alan into our network.

“We already have a presence in South Wales through our Allen & Energy Matters and Conveyancing Direct. This latest addition not only strengthens our coverage of the market in Wales but reinforces our commitment to the local economy as we will look to further develop the Peter Alan business.

“We remain very open to approaches from owners of existing sales or lettings businesses looking to further their growth as part of a wider group.”

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