Double acquisition marks progress in Yorkshire estate agency’s £10m investment plan

An estate agency in Yorkshire has acquired two independent rivals.

Linley & Simpson, which operates from 11 branches across North and West Yorkshire, has snapped up the letting portfolios of Hitchen & Co and McCartney Lettings, headquartered in Leeds and York respectively.

Linley & Simpson has now acquired six Yorkshire firms so far this year.

But the two announced today (September 6) represent the first deals completed since Lloyds Banking Group’s private equity arm, LDC, invested £10m in Linley & Simpson in June to accelerate the firm’s growth strategy.

By acquiring Hitchen & Co and McCartney Lettings’ portfolios, Linley & Simpson has added 340 properties to its books and raised its total in Yorkshire past 6,000 for the first time.

Linley & Simpson chief exec Will Linley said: “Other acquisitions are planned before the end of the year as we aim to consolidate our position in a market that we know very well, and which we believe holds no shortage of opportunities.

“These latest acquisitions, and others in the pipeline, form another strong signal of our confidence in the future, and investing in it.”

He continued: “Through our partnership with LDC, we aim to increase the number of properties we manage from 6,000 to 10,000 over the next three years, bringing our market-leading services to a wider range of customers right across the Yorkshire region.”

LDC investment director Gareth Marshall commented: “These acquisitions will allow Linley & Simpson to continue its exciting growth strategy, further consolidate its position as one of Yorkshire’s leading estate agencies and take its market leading service to more tenants and landlords.

“As the first acquisitions made since our investment they also represent a major milestone in the company’s expansion programme. With plenty of exciting projects to come we’re looking forward to further supporting the business as it continues to go from strength-to-strength.”