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Savills gets its cheque book out to purchase single-office independent

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Savills has acquired a single-office independent agent for an undisclosed sum.

Granville Residential covers the Marlow, Maidenhead, Bourne End and Cookham areas in Berkshire and Buckinghamshire and now joins the Savills network of 89 residential offices across the UK and an international network of over 700 offices.

Based in Marlow, Granville Residential was founded in 1991 as a specialist letting agency but now also offers sales. Its team of five staff members have transferred to Savills.

The office will complement Savills’ existing local network of offices in Windsor, Henley-on-Thames, Beaconsfield and Amersham.

Justin Marking, head of Savills Residential, said: “This acquisition follows our strategic decision to invest in our lettings division.

“This particular business also offers us the opportunity to increase our market share of sales in the Marlow area which has long been a target and I can see it working really well with our existing local offices.”

Mark Ridley, CEO of Savills UK and Europe, said: “We are delighted with this strategic acquisition and we continue to invest in our residential lettings and sales platform.”

Separately, Yorkshire agent Manning Stainton has made it clear that it is on the acquisition trail of lettings businesses after purchasing local firm AR Estate Agents in Leeds.

As part of the purchase, for an undisclosed price, Manning Stainton is taking over AR’s lettings portfolio, described as extensive.

Managing director Mark Manning said: “We would like to expand our lettings operation even further by acquiring other like-minded businesses.

‘The industry is experiencing some fundamental changes and we feel that our expertise in the sector aligned with our extensive geographical footprint could be of real benefit to independent agents and landlords during these challenging times.”

Manning Stainton currently has 19 sales and lettings branches across west and north Yorkshire.

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Source:: Savills gets its cheque book out to purchase single-office independent