City centre rivals snapped up by property company
ESTATE agency Linley & Simpson is continuing on its aggressive acquisition trail, and has now acquired a York-based rival.
The York Property Company, a lettings and property management company, was bought for an undisclosed amount.
Operations will move to Linley & Simpson’s branch in Micklegate.
The current owners of the York Property Company, Martin and Pauline Cooper, are retiring after 12 years with the business.
This will be Linley & Simpson’s fifth acquisition following a £1.8m funding package from Santander’s Breakthrough Programme. It started 2016 with the announcement of a deal for another agency, HERE.
The residential sales and lettings business bought Leeds Lets in January 2015, Chapel Allerton-based Hendys in April and a third, undisclosed, purchase in the autumn having set a target of doubling the size of the business over a three-year period.
It plans to use the funding to double the size of its business over the next three years through more acquisitions and the development of its residential sales service.
Director, Nick Simpson, said: “These extra homes will help us keep pace with an ever-increasing demand for rental properties in both York and the surrounding communities – a trend that is poised to continue throughout the rest of this year and beyond.
“Not only will it enable us to give greater choice to tenants, it will also offer landlords that are new to us the opportunity to access our growing database of people actively searching for a new home to rent.
“This acquisition is a natural progression for us and is a fitting way of marking 10 successful years of helping people move in York.
“All the properties we have inherited will fit seamlessly into the growing portfolio managed by our flagship branch on Micklegate, which has had its busiest year since it opened its doors in 2006.
“This is a further signal of the strength of the York market and its appeal as a prime location to work and live.”
Linley & Simpson launched with just two offices and employed four staff. Now, it employs 155 staff and has a branch network that now extends to York, Harrogate, Ripon, Wetherby, Wakefield, Ilkley, Saltaire and four in Leeds.
