Annual results announcement
End of year financial results
3rd - 9th February 2020
Peter Alan acquires Marina Quay sales and lettings agency
Acquisitions drive continues
Wales’ largest estate agency Peter Alan, part of the Connells Group, today announces that it has agreed to purchase Marina Quay estate and lettings agency as part of its continued strategy to extend its regional branch network and increase market share.
Marina Quay is an established independent estate and lettings agency business at Swansea Marina, founded over 14 years ago, which focuses on the specialist Swansea Marina rental and sales market.
This acquisition will see Marina Quay’s team of staff retained, and the business will begin to trade under the Peter Alan brand name, taking the number of Peter Alan offices across South Wales to 27.
The lettings arm of the business will bring a portfolio of 160 properties to Peter Alan, which will be managed from the branch with assistance from the central Lettings Support Centre. The branch will also expand its lettings offering by providing a range of service types, including Rent & Legal protection, in order to better meet the needs of current and new landlords.
“We are really pleased to have acquired Marina Quay sales and lettings which allows us the opportunity to develop an already successful business and work with some great staff”, says Andrew Barry, Peter Alan Managing Director. “We have been investing heavily in the Swansea area recently, re-locating both our Swansea and Morriston branches, expanding our pa black offering and developing our lettings division locally. This acquisition is another step in our Swansea expansion strategy and fits seamlessly with our existing branch network. We look forward to welcoming the Marina Quay team to the Peter Alan group.”
The Marina Quay office will be dual-branded as Peter Alan and pa black, the distinctive homes service, in order to enhance the Marina Quay proposition by providing additional benefits and services for current and new clients.
This announcement follows the recent acquisition of John Coombes estate agency in Dinas Powys, cementing Peter Alan’s plans to develop its market leading position in South Wales, by continuing to expand through strong organic growth and further acquisitions.
Peter Alan is open to new opportunities to acquire existing sales or lettings business across South Wales and is keen to hear from business owner’s looking to sell or who wish to grow as part of a wider group. If you are looking to sell your business, please contact email@example.com for a discussion in confidence.