Connells snaps up major northern agent as it ratchets up expansion

Connells is to purchase the highly successful firm of Gascoigne Halman.

The purchase price has not been disclosed and completion of the deal is subject to approval by the Financial Conduct Authority.

The “northern powerhouse” deal takes Connells geographically into a new region.

Gascoigne Halman, founded in 190, has 18 branches operating across south Manchester, north-east Cheshire and the High Peak.

The acquisition takes the Connells Group’s high street network to nearly 540 branches across the UK.

Gascoigne Halman will continue to trade under its existing brand with founder and managing director John Halman remaining at its helm.

David Plumtree, Connells Group estate agency chief executive, said: “We are delighted to welcome such a strong and high quality business as Gascoigne Halman to the Connells Group.

“This acquisition is a good strategic fit for our expansion plans and perfectly complements our branch network.

“It brings depth and further quality to our existing portfolio and gives us a presence in this region for the first time.”

Halman said: “Partnering with Connells is the best way of securing our position in the future and gives us added impetus and ability to not only develop our existing business but to push out and expand in the future where opportunities arise.

“We firmly believe that this new relationship will enhance the Gascoigne Halman brand and that this will be advantageous to our customers and the business.”

This latest deal follows a series of acquisitions by the Connells Group, which describes itself as having embarked on “one of the most ambitious growth strategies ever undertaken by a UK agency”.

Acquisitions over the last 18 months include Peter Alan, the largest estate agents in south Wales with 26 branches; Adrian Cole & Partners, Buckinghamshire; Cartwrights in Stafford; Harrisons in Lincoln; Platinum lettings in Crawley; and a number of acquisitions of lettings books at a local level.

The Group has also grown organically during this period through opening a further 114 residential and lettings branches.

Connells stressed it remains “open to approaches from existing sales or lettings businesses looking to sell or who wish to grow as part of a wider group”.

Originally posted here.

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