The Liverpool business of one of the best known agents in the north, Farrell Heyworth, has been acquired by Sequence – part of Connells.
The actual purchase of the three branches in the city, for an undisclosed sum, is attributed to Jones & Chapman, the Sequence brand in the region.
Sequence says the deal signals its intention to make further acquisitions across the UK.
Farrell Heyworth is one of the largest independent estate agency groups in the north-west, established in 1991. The deal reduces its branch network from 21 to 18.
The Liverpool Farrell Heyworth operation will now trade as Jones & Chapman and current members of staff will be retained, assisting the transfer of the business and providing consistency to customers.
David Plumtree, group CEO of estate agency at Sequence, said: “The incorporation of Farrell Heyworth’s Liverpool arm into the Jones & Chapman network is a terrific acquisition for the company and one which will provide good synergies with our existing local branches.
“This significant investment demonstrates how highly we regard this quality market place. It strengthens our position and will extend the company’s market leading property services to even more customers, tenants and landlords.”
Chris Heyworth, co-founder of Farrell Heyworth, said: “Having taken a strategic decision earlier this year to focus on our core geographical network, it was essential to sell this part of our group to a like-minded and professional company.
“The transaction with Sequence was handled in an exemplary manner, and the jobs of the staff involved have been secured with one of the country’s largest estate agency groups.
“The disposal of this part of our business now enables us to concentrate our resources on developing the remaining 18 branches throughout the north-west, together with specialist Mortgage, Professional Services, and Auction divisions.”
Sequence yesterday said it plans to expand and invest where the right opportunities exist.
It said it is currently undergoing one of the largest lettings expansion projects ever undertaken in the UK, aiming for a further 75 new lettings branches by the end of this year.