Stirling Ackroyd, the well-known London agency name bought by Nick Dunning Associates in a complex deal last July, looks set to stage a major comeback.
Stirling Ackroyd has now bought the lettings book of an equally well known brand, MyLondonHome.
MyLondonHome, which recently closed its call centre in Colchester, Essex, but said only one job had been lost, retains its sales and new homes business.
Nick Dunning Associates is run by Nick Dunning and his team who all worked together at Countrywide.
The terms of the deal with MyLondonHome, winners of many industry awards, are not quite clear.
Steven Herd, CEO of MyLondonHome, said: “It is very exciting to be working with Nick and his team at Stirling Ackroyd to grow all our businesses.
“I was hugely impressed with how quickly and efficiently the team got the deal done and I look forward to working closely with them.”
Yesterday, it was also announced that Stirling Ackroyd has relaunched its new homes division.
It said this followed the resolution of a legal dispute with a previously affiliated business which can now no longer use or reference the Stirling Ackroyd brand. It did not name the business.
Brett Sullings, head of Stirling Ackroyd Commercial, said: “It is with immense pleasure to announce Stirling Ackroyd New Homes is now back in-house with a new team based in our Shoreditch headquarters.
“Our commercial team has sourced land for developers for many years now.
“We are once again able to provide them with full access to our branch network and brand for the sale new homes.”
Stirling Ackroyd was founded by one of London’s most colourful characters, James Goff. He died in 2016, but tried to run the company despite his cancer, until the very end.
By that time, the company was debt-ridden.
Nick Dunning Associates then stepped in with a deal that ended the company voluntary arrangement.
Steve Wilson, managing director of Stirling Ackroyd, yesterday said: “Since being acquired, we have kicked off a £500,000 branch refurbishment programme, opened a new office in Dalston, relaunched Stirling Ackroyd New Homes and made our first sizable acquisition.
“Everyone at Stirling Ackroyd is very excited about the plan to triple the size of the business over the next two years.”
Nick Dunning Associates last month acquired the portfolio of the Little Letting Company, in Woking, Surrey.
That deal, together with that of MyLondonHome, has added over 1,000 managed units to Nick Dunning Associates.