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Let Leeds acquires fourth local independent

September 10, 2019 | Company News   Landlord News  

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Let Leeds has completed the takeover of local rival Parklands Estate Agents, increasing the size of the business and adding further managed tenancies to its portfolio.

Parklands Estate Agents, based in Meanwood, is the fourth in a series of acquisitions that also includes Armley-based Milnes Walker in February earlier this year. The Directors of Parklands were looking for a change of direction and Let Leeds provided the perfect opportunity to take the business forward.

“Let Leeds is a perfect fit for us” says Mike Hodge, one of the Directors of Parklands Estate Agents.

“They are customer-focused and experienced, so we knew they were the right people to take care of the clients and portfolio and we worked so hard to build”.

Celebrating a decade in business this year, Let Leeds prides itself on providing a highly personal service, with a forward-thinking philosophy that responds quickly to market changes.

The strategy is paying off already. “In the three months following the Tenant Fee Ban, we have not only offset the loss of tenant fees, but have increased turnover by 38% compared to the same quarter last year” says MD, Luke Gidney.

“We’ve managed this through a combination of acquisition and new alternative income streams, proving there is still plenty of opportunity for independent agents in the PRS”.

“Part of it is understanding what today’s renters are looking for and adapting accordingly”. Let Leeds is stepping up their all-inclusive offering, called, which combines the rent with utilities, broadband, Sky TV and even contents insurance into one simple monthly payment for Tenants. “It’s already proving incredibly popular, with a third of all new move-ins during 2019 taking up our all-inclusive packages”.

We are continuing to explore further avenues to grow our portfolio and would like to hear from other independent agents in Leeds regarding a potential merger, please feel free to get in touch with the team to discuss any potential opportunities.

“Many business owners I speak with are concerned about reduction in new landlords entering the market, pressure on income and increased regulation. As the industry continues to consolidate at a frantic pace, joining forces with other independents presents exciting new opportunities.”

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