Property firm expands rental portfolio with estate agent acquisition
Leeds-based property company, Adair Paxton, has expanded its portfolio of managed residential rental properties after acquiring Rothwell estate agent, William Denton and Son.
William Denton and Son was founded more than 140 years ago. Paul Simpson joined the business 45 years ago and became a partner, alongside his wife Julia, in 1984. The couple have now retired following the sale.
The deal will add more than 200 managed properties, located throughout Leeds and West Yorkshire, to Adair Paxton’s rental portfolio, which will now be managed by the firm’s Horsforth and Leeds city centre offices.
Guy Roberts is a director at Adair Paxton and heads the company’s residential lettings division.
He said: “William Denton and Son has an excellent reputation, built up over many years, and managed a significant number of properties, which made this a strategic and sought-after acquisition.
“The portfolio includes a large number of regulated tenancies, which are long-term agreements between tenants and private landlords, and as one of only a few companies in Leeds with expertise in this area, the portfolio was a good fit that complements our lettings division.”
Simpson said: “We have built up and run a successful business and we carefully considered who we would sell the business to as we planned for retirement.
“Although there was a lot of interest, Adair Paxton has a long history in Leeds and an expert team operating across all areas of the lettings spectrum, which gave us the confidence that they would maintain the high standards of service and professionalism that our landlords and tenants have come to expect.”
Adair Paxton was founded in 1859 and offers residential and commercial property services, with particular specialisms in property and block management, as well as sales and lettings.
This is the second acquisition for the company’s residential lettings division in recent years after the company bought estate agency firm, Hudson Moody Wass, which specialised in Leeds city centre rentals, at the end of 2019.