18 Jul Property agents join forces for bigger bite of residential pie
Tie up between two independent leaders widens the gap in the East Midlands as Newton Fallowell merge with Hartleys
Newton Fallowell has merged with Hartleys, reinforcing the firm’s position as the largest independent estate agency across the East Midlands, and now fielding a combined network of 25 branch offices.
Against a backdrop of the region’s strengthening property market, the two companies have struck the strategic alliance to fuel future expansion in residential markets, pointing to the natural geographic fit of the combined network of offices.
Now stretching across Leicestershire, Derbyshire, Staffordshire, Nottinghamshire and Lincolnshire, the collaboration between the two firms will bring operational efficiencies and a wider customer base for sellers, although both will continue to trade under their current branding and will retain all staff at existing branches.
Hartleys has been the dominant property agent in the Loughborough and Charnwood areas for the last five years, with a core market ranging from semi detached properties up to £1m individual village houses.
Under the deal, Gary Hartley, eponymous founder of the Hartley chain in 1995 and a former England rugby international, will become an executive director of Newton Fallowell, bringing four branches and 25 sales staff into the merged group.
Newton Fallowell, founded by chief executive Mark Newton in 1999, has 21 branches and 150 staff across the region. The merger has grown out of a long standing relationship between Hartley and Newton, who worked together as chartered surveyors in the 1980s, before each setting up their respective businesses, which have gone on to grow side by side.
“We have a team of young and ambitious branch managers, all looking to go places. This merger will provide major opportunities for growth, thanks to the resources of the combined group and the bigger geographic territory, and enable our managers to take greater ownership at branch level, within a strong and supportive infrastructure,” explained Gary Hartley.
He added: “Customers won’t see any change in the people they deal with, or the style of delivery – just in the results we are able to achieve. The message is ‘business as usual’ – it’s not a buy-out, it’s not a takeover – we’re just part of a bigger family.”
The Hartleys lettings business is not included in the agreement, and will continue to trade as a stand-alone business, with Gary Hartley remaining as senior partner.
Newton Fallowell chief executive Mark Newton added: “This deal is about creating a win-win opportunity for both firms. Unwinding the residential sales operation from Hartleys to merge with us at Newton Fallowell will give extra muscle for future expansion and keep us ahead of the game. Market conditions have improved considerably in the region, but it’s still tough and there are major changes in the mortgage market for buyers to contend with.
“We’ve increased our footprint by 25% overnight and the bigger network is going to bring benefits for both buyers and sellers, by opening the door to a much increased customer base.”
ENDS
For further information, please contact:
Press information:
Maggie Taylor, Prima PR & Marketing Email: maggie@primapr.co.uk
David Newton, Director of IT & Marketing, Newton Fallowell Email: david.newton@newtonfallowell.co.uk
Notes to Editor:
About Newton Fallowell
Founded in 1999 by CEO Mark Newton, an estate agent and industry specialist since 1976, Newton Fallowell is a family business extending to a network of 21 branches, before this merger announcement, from Burton on Trent to Boston, and from Retford down to Bourne. Services include property sales and letting, surveying, in–house conveyancing and mortgage advice.
Twitter: @MarkOnProperty
About Hartleys
An independent practice of Chartered Surveyors and Estate Agents established in 1995 by Managing Director Gary Hartley, has become a multi disciplined practice covering residential sales and lettings, land and new homes, mortgage advice and professional surveying. The firm’s flagship property showroom is based in the market town of Loughborough, serving the property market across Charnwood and Leicestershire, with other village branches based in their individual local communities, including Rothley, East Leake, Syston and Woodhouse Eaves.
www.hartleys-ea.co.uk
Twitter: @HartleysEA