Linley & Simpson has acquired the residential lettings and sales business of fellow independent agency Morgans, which has played a major role in promoting city living in Leeds.
It marks the third acquisition that Linley & Simpson has completed since the Government’s letting fees ban came into force on June 1, which the agency says has added impetus to continuing consolidation of the industry.
It has also revealed that two further acquisitions are at an advanced stage.
The deal adds more than 1,450 homes to the lettings portfolio of the agency – founded by Will Linley and Nick Simpson – which now stands at 8,000 properties across its 16 branches in North and West Yorkshire
It also brings together the land and new homes specialisms of both agencies, as well as their property consultancy services, as part of a key strategy to support the growing pipeline of new buildings across the city.
“This is a milestone moment for two like-minded, home-grown Yorkshire agencies who both launched in Leeds in 1997,” said Will Linley, chief executive of Linley & Simpson.
“When we first opened our doors, there were only around 500 residents living in the city centre. Now there are over 12,000 and over the next decade we expect the population will grow to well over 20,000.
“As the cranes return to the Leeds skyline in ever-increasing numbers, this is a timely opportunity to bring together all our skill sets under one roof amidst this latest phase of Leeds’s urban revolution.”
“Under the vision, leadership and unrivalled knowledge of founders Jonathan Morgan and Nigel Lenton, the name of Morgans has become synonymous with city living in Leeds. We are delighted that both will remain as key members of our senior executive team.”