My Property Box has acquired Newcastle estate agent Groves as part of its strategic growth plan.
All 12 staff will be retained and the firm, which has more than 30 years’ experience in sales, lettings, and property management, will continue trading under the Groves banner.
The acquisition by Darlington-headquartered My Property Box – its seventh in three years – further consolidates its position across the North East and North Yorkshire.
The sale of Groves, which serves an area from Berwick upon Tweed to South of the Tyne, follows the retirement of founder Nick Rawlinson. However, head of operations Wendy Leonard, who has been with the business for more than 16 years, takes over responsibility of its day-to-day running, ensuring a smooth transition following the sale.
Groves will continue to operate its tenancy management centre in Newcastle together with its office in Acorn Road, Jesmond.
Ben Quaintrell, the founder and managing director of My Property Box, said: “The acquisition, which brings with it an excellent portfolio of properties, enables this business to extend its reach in the north of the region.
“Groves has earned a reputation as one of most successful property companies across Tyneside and Northumberland, which it has achieved through its knowledge of the local market.
“It also has extensive expertise within the student letting sector, given Newcastle is such a thriving university city. I’m thrilled to have acquired an estate agent of this calibre.
Wendy Leonard said: “Groves is an independent with a proud tradition of delivering a high quality and personal service and I look forward to working closely with the digitally focused team at My Property Box to see how we can take this to the next level.
“There is a huge amount of synergy between both businesses and this deal represents an important step forward for both.”
Other recent acquisitions made by My Property Box, founded in 2012, includes lettings agencies Westoe Lettings in South Shields, Richmondshire-based WardHorne and Bishop Auckland estate agent Lifestyle Property.