Thornley Groves swoops for Altrincham agent as acquisition spree continues

Manchester sales and letting agent Thornley Groves has acquired Altrincham agent Hallmark Residential as it looks to meet growing demand within the booming local market.

Thornley Groves’ sixth acquisition in four years, Hallmark Residential contributes a strong lettings portfolio and growing sales division, and brings the number of properties under Thornley Groves’ management to 3,000 across the Manchester region.

Hallmark Residential will operate under the Thornley Groves banner from early next year, with its team of local experts boosting the Manchester employee count to 100.

Thornley Groves chief executive, Jason Watkin, said: “The Altrincham sales and lettings market continues to flourish and, despite average house prices being more than double those elsewhere in Greater Manchester, demand has never been higher. This latest acquisition puts us in a greater position to satisfy that growing interest and in supporting a more sustainable market through our relationships with new and existing sales and lettings customers.”

Polly Woodward, the former owner of Hallmark Residential, added: “We are very proud of what Hallmark Residential has achieved in the Altincham area and believe Thornley Groves is well placed to take the business to the next stage. Jason and his team are a safe pair of hands and will offer our clients excellent service. We look forward to working with them over the coming months to ensure a smooth handover.”

The deal comes after Thornley Groves’ parent company, Lomond Capital, secured £37.5m of acquisition funding earlier this year and just a week after the acquisition of Tanat-Jones in Brighton.

Lomond Capital chief executive Bruce Evans said: “This latest acquisition reaffirms Thornley Groves’ position as a leader in the North West market and its ability to meet both growing demand and customer expectations. Ending 2017 on a high by expanding our stronghold in the Manchester area gives Lomond a huge advantage as we embark on an ambitious year ahead, with the aim to sell over £1bn worth of properties and build our portfolio to over £4bn across the country.”

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