A franchisee with three offices has completed the purchase of a five-branch business – tripling the size of his property portfolio and taking on 35 new staff.
Mitul Gadhia, of Whitegates Leicester, has purchased Taylors, a well-established estate and lettings agency which has been operating since 1992 and which currently has five offices across Leicester and Loughborough.
Gadhia, who also owns two Martin & Co franchises, launched into estate agency just five years ago at the age of 22.
His new deal will see the rebranding of Taylors and its portfolio of 480 managed-properties as Whitegates, a brand operated by The Property Franchise Group.
Gadhia said: “I am absolutely delighted to have completed on this recent purchase.
“Having launched my first agency in Loughborough in 2012 under the Martin & Co brand, I opened a Whitegates office in Leicester city, but my appetite was not satisfied and I wanted to grow faster still.
“Making an acquisition seemed like the logical choice and Taylors is an agency with such an established heritage here in the region that it made a perfect fit.”
“Our managed property portfolio has grown more than three-fold, which means my business is well-positioned to thrive after the tenant fee ban comes into force.
“I’ve also taken on 35 experienced and well-qualified staff which means a ready-made management team to drive further success.”
Gadhia has lived in Leicestershire for over a decade and in addition to his network of estate and lettings agencies, also has his own portfolio of properties across the UK.
At just 27, the acquisition propels him to be the largest franchisee in terms of office numbers (eight) across the whole of The Property Franchise Group.