21.3 C
Cheshire
Monday, May 20, 2024

Leef acquires major lettings business as it branches out

A Warrington property management business has acquired the lettings arm of Hockley Developments – a supported living and residential development company in the East Midlands.

Leef Property Group has acquired Sherwood Lettings and Management Ltd adding Sherwood’s 100+ units to its existing 3,000-strong portfolio of managed properties, which span from the Midlands to the North East and Yorkshire.

The business, which has operated a local team in the Nottingham area for more than five years, already has experienced agents covering the Midlands region to lease and manage the properties, supported by its head office function.

This latest acquisition is another boost to Leef’s fast ascending trajectory that’s seen it bolster its portfolio by more than 800 managed properties already this year.

It’s on track to more than double its current portfolio within the next three years through new relationships with developers, investment companies and sales agencies.

Rapid expansion

Joe Knowles, co-founder and director of Leef Property Group (pictured), said: “We’ve had a close relationship with Hockley Developments for a number of years and are familiar with its developments, so taking over the professional management of its rental portfolio fits perfectly into our operating model and specialisms.

“We’re expanding rapidly within the Nottingham area, which has a burgeoning rental market. Track Capital’s 2023 report placed Nottingham seventh out of all towns and cities in the UK in terms of rental yields. The average for Nottingham properties is 5.94%, which is well above the East Midlands average of 4.1%.

“As we have a proven scalable model, and unrivalled experience, we believe we have the capability to more than double our operations by attracting a range of clients from asset managers to property developers who are placing new schemes under our full management. Business acquisition is another key part of our future growth strategy.”

Managing director of Hockley Developments and Sherwood Lettings Alan Forsyth said: “The sale of our rentals management arm to Leef enables us to focus on our core business strategy most notably the design and build of Supported Living developments, as well as sustainably led residential schemes.”

spot_imgspot_img

Latest

Unlocking Business Efficiency: The Advantages of Using Storage Containers

Discover how your business can benefit from storage containers....

Amazing speakers announced for UFEST – the ultimate Health, Happiness, and Wellbeing Festival

Amazing speakers have been announced for UFEST - the...

Incspaces Pros and Cons of a Virtual Office

A virtual office can be a great service for...
spot_imgspot_img

Newsletter

Don't miss

The Importance of Easy-to-Read Fonts

In the realm of typography, legibility and readability are...

Eco-Friendly Construction Techniques for UK Homes

To foster more sustainable living, the construction sector in...

Chester FC Community Trust offers inclusive mental health football sessions

The Chester FC Community Trust marks this year’s Mental Health Awareness...

Cotton Traders raises £150,000 for Help for Heroes this year

An Altrincham fashion brand has celebrated raising £155,514 for...

More News

Prefabricated and modular construction manufacturer Module-T to expand into Europe from the South of France

After a decade and a half of pioneering modular and prefabricated construction and establishing large-scale container sites, Module-T has launched a new depot in...

£1.5 MILLION TURNOVER FOR NORTH WEST CREATIVE AGENCY

North West creative agency Unite and Create has reported an annual revenue of £1.5 million. Founded in 2020, the agency which specialises in digital design, live events,...

Altrincham Insolvency Practice N J Goodman & Co Acquired by Slater Heelis

With a view to continued growth during its 250th anniversary year, Slater Heelis has acquired Altrincham-based insolvency law specialists, N J Goodman & Co...