Manchester-based property agent looks to Altrincham for sixth acquisition in four years

Sales and letting agent Thornley Groves has acquired Altrincham agent Hallmark Residential.

The deal is the Manchester-based firm’s sixth acquisition in four years and raises its portfolio of properties under management across Greater Manchester to 3,000.

From early next year, Hallmark Residential will operate under the Thornley Groves brand, boosting the company’s employee count to 100.

Jason Watkin, chief executive of Thornley Groves, said: “The Altrincham sales and lettings market continues to flourish and, despite average house prices being more than double those elsewhere in Greater Manchester, demand has never been higher.

“This latest acquisition puts us in a greater position to satisfy that growing interest and in supporting a more sustainable market through our relationships with new and existing sales and lettings customers.”

The former owner of Hallmark Residential, Polly Woodward, commented: “We are very proud of what Hallmark Residential has achieved in the Altincham area and believe Thornley Groves is well placed to take the business to the next stage.

“Jason and his team are a safe pair of hands and will offer our clients excellent service. We look forward to working with them over the coming months to ensure a smooth handover.”

The deal follows news earlier this year of Thornley Groves’ parent company, Edinburgh-based investment firm Lomond Capital, securing £37.5m of acquisition funding.

Lomond Capital chief executive Bruce Evans said of the Hallmark acquisition: “This latest acquisition reaffirms Thornley Groves’ position as a leader in the North West market and its ability to meet both growing demand and customer expectations.

“Ending 2017 on a high by expanding our stronghold in the Manchester area gives Lomond a huge advantage as we embark on an ambitious year ahead, with the aim to sell over £1bn worth of properties and build our portfolio to over £4bn across the country.”

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