Countrywide invests £12m in SW rental market

Countrywide plc, the UK’s largest integrated property services group including the largest lettings agency, has capitalised on the growth of the UK rental market and significantly increased its regional  footprint in the South West  by investing £12.6 million in acquiring 26 lettings businesses in five years.

These acquisitions are part of Countrywide plc’s strategic growth plan with the aim to stand as the largest and effective player within the residential lettings industry.
Countrywide’s acquisitions located in Devon and Cornwall include Jayne & Moss a well established business in Paignton, full service lettings agency Mid Cornwall in St. Blazey Gate, the large portfolio of Property Links in Plymouth, as well as Castle Moat in Somerset, NCT in Penzance and Richard Towerbridge in Liskeard.

Nick Dunning, Group Commercial Director, Countrywide plc, comments:

“The acquisitions we made in the South West are in line with our selective acquisitions strategy, which was focused on delivering 26 acquisitions in five years. These acquisitions significantly increase our regional footprint and fill in the geographical gaps in our portfolio. Current market conditions offer ongoing opportunities to acquire lettings businesses and scope to enter new markets as well as expand our presence in existing markets.

“The investments we make in our acquisitions are not only focused on the growth of our Countrywide Residential Lettings business within the Group but also the growth of our people. Over the past five years our acquisitions have created circa 85 new jobs within the South West lettings sector, some of which have been the first stepping stones for many graduates’ in their  future careers.”

John Hards, Managing Director, Countrywide Residential Lettings, comments:

“Countrywide has a unique ability to grow businesses by ensuring they operate autonomously, retain their local heritage and benefit from Countrywide’s ongoing investment and support. We have built a very strong and successful network of branches in the South West, via strategic acquisitions and new branch openings and we are pleased with the wide coverage we have gained over the last five years. For clients, Countrywide’s structure, scale and all-round property expertise enables it to best serve the needs of clients of all sizes; from private landlords to corporate investors.

“In line with our expansion strategy, we are very interested in talking to professional agents with single or multi-branch businesses almost anywhere in the UK. If you would like to speak to me in absolute confidence I can be reached at john.hards@countrywide.co.uk”