Linley & Simpson estate agents and letting agents have acquired one of its longest-established rivals in the city as its expansion programme continues to gather pace.
Linley & Simpson, which specialises in residential sales and lettings, has taken over the entire rental portfolio of fellow independent agency, Minster Property its second acquisition in York this year.
The deal completed for an undisclosed sum will see all the properties formerly managed by Minsters office in Walmgate merge into Linley & Simpsons new-look branch in Micklegate.
Minster Property, founded more than 15 years ago, is a well-known name and respected brand in the thriving York lettings market and we are delighted to acquire their portfolio of properties, said director Will Linley.
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.
He added: This acquisition is a natural progression for us and is a fitting way of marking our very own 10th anniversary of helping people move here in York and its surrounding villages.
All the properties we have inherited will fit seamlessly into the growing portfolio managed by our flagship branch on Micklegate, which is having its busiest year since it opened its doors in 2006.
This is a further signal of our confidence in the York market and the strength of its appeal as a prime location to work and live.
In April, Linley & Simpson acquired the York Property Company in Stonegate. The latest acquisition of Minster is now the sixth since Linley & Simpson secured a £1.8m funding package last year through Santanders Breakthrough Programme, designed to support the owner-managed agencys strategy for future growth.
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.
When it launched, Linley & Simpson operated two offices and employed just six staff.
Now, having helped more than 100,000 people move into 40,000 homes, it employs 161 staff and has grown into a branch network that now extends to York, Harrogate, Ripon, Wetherby, Wakefield, Ilkley, Saltaire and four in Leeds.