Independent estate agency Morgans has been advised on its acquisition by private equity-backed estate agency group Linley & Simpson, adding almost 1,500 homes to its letting portfolio.
“Congratulations to all parties in what is sure to be a landmark deal for the sector in Leeds. I’m sure that Jonathan Morgan and Nigel will be an asset to the Linley & Simpson team and together they will go from strength to strength.” Daniel Bisby, Solicitor
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.
It marks the third acquisition that Linley & Simpson has completed since the government's letting fees ban came into force on 1 June, which it said has added impetus to continuing consolidation of the industry. It has also revealed that two further acquisitions are at an advanced stage.
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