The Property Franchise Group has confirmed one of its largest ever single-office acquisitions.
Martin & Co Plymouth has acquired Executive Lets, said to be the city’s largest letting agents.
Chris and Merolyn Whitaker purchased the Martin & Co Plymouth franchise in April 2015. They had previously served 16 years in the Army’s Intelligence Corps.
Executive Lets, founded in 1966, will be rebranded as Martin & Co and incorporated fully into the agency’s existing operation.
The deal means Martin & Co Plymouth more than quadruples the number of properties it has under management, and will see its team grow more than three-fold.
Penny Sanders, executive head of franchising for The Property Franchise Group, said: “This really is an unprecedented move.
“The Martin & Co Plymouth team has enjoyed phenomenal success in a relatively short period of time, having launched as a cold-start business in a brand new franchise territory, and this deal is absolute testament to this success.”
Chris Whitaker said: “In the first quarter of 2017 we were one of the leading estate agents in Plymouth for new instructions, second only to Executive Lets – so for us to be now coming together in this way puts us in an exceptionally strong market position.”