Buying agent Sourcing Property has announced a rebrand to reflect its expansion into property and portfolio management.

The agency, founded by Jo Eccles in 2006, has changed its name to SP Property Group.

Asked about the reason behind the change, a spokesman said the firm had been offering property management for more than five years due to client demand, while block management provided a regular income stream unaffected by what happens in the buying market.

She said buying still makes up a large portion of the revenue at around 40%.

Eccles said: “Although originally established as a buying agency, we were frequently asked by clients if we could provide additional services, so it made sense to evolve and expand the business in response to client demand and changing market conditions.

“Many of our clients now use us for a ‘full circle’ property services and advice – we might rent them a property, then buy for them, then manage the property when they upsize or relocate, then take over the management of their block, and later on help them build a property portfolio for themselves or their children.

“It is great to be able to guide and act for our clients at every step of their property journey and provide the trusted expertise they need.

“For years, we have been referred to as SP in the industry – the name change is a formal acknowledgement of how far we have come since being established 11 years ago.”