Interim profits for 2018 announced
Further expansion to grow network
Connells Group acquires Touchstone Residential Lettings
Latest acquisition announcement
Connells Group has continued its acquisition momentum throughout 2016 and today announces the purchase of Touchstone Residential Lettings (TRL).
TRL, a specialist retail lettings and property management business, has nine branches in three key areas – Kent, Buckinghamshire and the West Country - and has been sold by Touchstone Corporate Property Services, which will in future focus all its efforts on the institutional investment market. Managing well over 2,000 properties, this acquisition will see TRL’s team of 50 highly skilled and qualified staff retained, and the business will initially continue to trade under the 'Touchstone Residential Lettings' brand pending its integration into the local Connells Group brands by the end of the year.
“We are really pleased to have acquired Touchstone Residential Lettings which represents the opportunity for us to develop an already successful business and work with some great staff”, says Stephen Nation, Connells Group Lettings Managing Director. “This acquisition is another step in our expansion strategy, fits seamlessly with our existing lettings branch network and we welcome the TRL team to the Connells Group”
Matthew Hunt, Managing Director – Touchstone Residential Lettings, adds: “We believe the sale to Connells Group, with its clear focus on the development of a retail lettings business, will provide better opportunities for staff and allow for the development of an even stronger offer for customers. Touchstone’s core business will continue unchanged, now with a clearer focus on our corporate and institutional client base.”
Connells Group has, on average, opened over three lettings branches per month since the beginning of 2012 embarking on one of the largest lettings expansion projects ever undertaken by a UK agent. Currently operating through 320 lettings branches around the UK, the Group continues to develop through strong organic growth and with further acquisitions planned.