Bournemouth headquartered The Property Franchise Group PLC has formally completed its acquisition of Hunters Property PLC, supported by a £12.5m finance facility from Barclays.
Effective from 19th March 2021, TPFG – which owns a high-profile portfolio of estate and letting agency brands – will incorporate Hunters and more than 200 of their branches within the group, creating an enlarged franchised letting and estate agency network of over 450 franchise owners, 440 high street branches and 110 hybrid agents across the UK.
David Raggett CFO of TPFG, said: “The acquisition of Hunters with its reputable brand, experienced management team, capable franchisees and strength in residential sales, is highly complementary to our current offering enabling us to grow our market share in the sector. We look forward to welcoming all of the franchisees and staff into the group which offers a significant opportunity for future growth and development.”
TPFG is located at St Stephen’s Court Bournemouth as well as Cleckheaton and, now, York, with a franchised network operating across the UK under nine brands; CJ Hole, Country Properties, Ellis and Co, EweMove, Hunters, Martin & Co, Mullucks, Parkers, and Whitegates.
Chris Collings, Barclays Relationship Director, added: “Working with The Property Franchise Group to shape a financing structure which meets their immediate and future needs, as they continue to grow their business has been a very rewarding experience and we look forward to continuing our relationship with the management team moving forward.”