Property group, Stirling Ackroyd has announced that it has made its third acquisition of the year, expanding in East London with the purchase of multi-service property agency, Bridge Estates.
Shoreditch based Bridge Estates specialises in sales, lettings, land, new homes and commercial property. Over time, all of Bridge Estates employees will be integrated into Stirling Ackroyd’s Shoreditch operation and flagship office.
Tom Mulligan, Managing Director, Bridge Estates, said: “This is a key milestone in the journey for Bridge Estates. The acquisition provides the Bridge Estates team with greater opportunities and a greater range of services to offer clients. We are delighted with how the process has gone and pleased to be working closely with the teams at Stirling Ackroyd and Nick Dunning Associates."
The acquisition comes hot off the heels of Stirling Ackroyd’s purchase of lettings agency Lourdes in Westferry, and My London Home, earlier in the year. Like My London Home, Lourdes will be rebranded to Stirling Ackroyd.
The acquisition of Bridge Estates brings an extremely strong land and new homes team, with over 40 years of experience combined, headed up by Lucy Phipps; as well as a lettings book of just under 200 managed units.
Vince Corley, CEO, Stirling Ackroyd, said: “I am very much looking forward to working with Lucy in delivering accelerated growth in our burgeoning new homes business at Stirling Ackroyd."
Stirling Ackroyd’s plans for growth in its lettings and commercial divisions, including new homes, are robust. The business is well on the way to tripling its size over the next couple of years. It is currently looking at the Nine Elms area of London for new office premises and further opportunities for acquisitions.
Nick Dunning, CEO and Founder, Nick Dunning Associates, says: “Stirling Ackroyd was a fantastic acquisition for us. Our strategy is to focus on having power house branches, which deliver between two and ten million pounds in revenue per office and making acquisitions that complement this strategy.”