ANOTHER independent sells up its managed portfolio to a franchised corporate

first_imgHome » News » Agencies & People » ANOTHER independent sells up its managed portfolio to a franchised corporate previous nextAgencies & PeopleANOTHER independent sells up its managed portfolio to a franchised corporateSouthend Martin & Co franchisee Tony Lindberg buys up a fifth portfolio this time from Park Estates, taking his business to 650 managed properties.Nigel Lewis13th June 201901,106 Views The increasing number of independent letting agents cashing in their portfolios and exiting the market has been highlighted following the latest business acquisition by Martin & Co in Essex.Its franchisee in the seaside town of Southend, Tony Lindberg, has revealed that he has now bought a fifth property portfolio off a competitor since setting up in 2011, taking his total number of managed properties to 650.Lindberg (left), who worked as a retail area manager looking after 22 shops before entering the property industry, says his latest purchase is the managed properties of local independent Park Estates (pictured, above).“This…was extremely pleasing as we managed the entire process in under two weeks,” he says. “This purchase means we have the opportunity to introduce Martin & Co to brand new clients.”Lindberg was supported with funding and advice by The Property Franchise Group during the acquisition process.“It’s fantastic to see yet another Martin & Co acquisition complete,” says its Managing Director Louise Griffiths.“I’m extremely pleased for Tony, who has really made a huge success of growing his business.“Martin & Co is always looking for potential acquisitions, so any independent lettings businesses thinking of selling their portfolios should speak to us as we have the funding and support network to complete on these deals quickly.”Parkers purchaseAnother brand within The Property Franchise Group, Parkers, also announced an acquisition last week. Its long-standing star Reading franchisee Craig Wilson last week bought local competitor Samuel James, boosting his managed portfolio by 33%.Tony Lindberg Craig Wilson Martin & Co Parkers The Property Franchise Group June 13, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more