LDC portfolio company Linley & Simpson has strengthened its presence in one of the county’s most sought-after places to live with the acquisition of a rival.
Leeds-headquartered estate agent Linley & Simpson, which has a growing network of 11 offices across North and West Yorkshire, has bought the long-established Angus Roberts letting agency in Ilkley for an undisclosed sum.
The deal will see its letting portfolio of 240 homes transfer seamlessly to Linley & Simpson’s town centre branch in Brook Street.
The owner and managing director of Angus Roberts, David Waterhouse, who lives at Ilkley, will also join Linley & Simpson’s senior team as part of the deal.
He is also the Yorkshire representative of ARLA, the professional body for the letting sector tasked with driving up industry standards.
The acquisition of Angus Roberts marks the latest stage in a planned programme of major expansion by Linley & Simpson throughout its Yorkshire heartland.
The independent agency’s growth strategy is being accelerated thanks to an investment into the business of £10m earlier this summer by the Leeds team of LDC, the private equity arm of Lloyds Banking Group.
“Ilkley commands ever-growing appeal as a place to live and we are delighted to cement our position in the town with our acquisition of a dedicated letting agency of the calibre of Angus Roberts,” said Linley & Simpson Chief Executive Will Linley.
“Angus Roberts has been a well-known and respected name on the Ilkley High Street for more than a decade and we are thrilled it has chosen to become part of our journey of growth.”
He added: “David brings a wealth of expertise to our team and adds an extra dimension in key areas of the business
“He will play a key role in improving the quality of our services across all our branches.
“His market insight and special interest in the buy-to-let market will also support our landlords in ensuring their investment portfolios continue to meet their needs.”
This latest deal takes to seven the number of acquisitions completed by Linley & Simpson this year alone, and 33 since it first opened in 1997.
This injection of additional properties from Angus Roberts propels its total portfolio of homes under its management in Yorkshire to around 6,300.
Through its partnership with LDC, it aims to increase the number of properties it manages to 10,000 over the next three years, consolidating its position at the forefront of Yorkshire’s growing lettings market.
When Will Linley and Ilkley’s Nick Simpson launched their agency 21 years ago, they did so with just two offices in Leeds – Horsforth and Roundhay – and a handful of staff.
Now, following this latest deal, it employs more than 180 staff across a growing network of 11 regional branches.
In addition to Ilkley, the company’s network of branches has now expanded to include Leeds city centre, Horsforth, Roundhay, Chapel Allerton, Harrogate, Ripon, Wetherby, Saltaire, Wakefield and York.
IMAGE - (From left) Nick Simpson, Linley & Simpson Ilkley branch manager Andrew Sharp, David Waterhouse and Will Linley.