Estate agency makes third acquisition in six months
Mon, 13 May 2024 | BUSINESS SALE
Pattinson Estate Agency, a property firm based in Wallsend, has expanded with the acquisition of County Durham-based NS Bennett Estate Agency. The deal is the third acquisition that Pattinson has completed in the past six months, following deals for Ryedales Estate Agency in Cramlington, and Browns in Stockton and Norton.
NS Bennett is a local family-owned business that has operated for more than 50 years, serving Durham, Chester-le-Street, Consett and Stanley. The company has been sold after owner Stephen Bennett announced his retirement.
The firm’s office becomes Pattinson’s 28th location in the North East, with most of NS Bennett’s staff transferring to the buyer. Stephen Bennett will also assist in a transition period prior to retiring.
Pattinson Group Managing Director Justin Beckwith said: “This is another great addition for us as a company as a whole, as well as for our sales, lettings and commercial departments.”
“We have 27 branches spanning across the North East, and this 28th Pattinson branch gives us a presence in Stanley central. I would like to welcome the team from NS Bennetts, and founder and owner Stephen Bennett is assisting with the transition before enjoying his retirement.”
Chairman and founder of Pattinson Estate Agency, Keith Pattinson, said: “Whilst we are sad to see the end of an era with Stephen Bennett’s retirement, we are more than happy to ensure that this is a smooth transition for their clients. Everything is largely remaining the same for their clients, except for a name change to Pattinson Estate Agency.”
“For us as a business, the NS Bennett’s sales and lettings team joining us is a perfect fit. Having got to know the team we are confident that they have a similar client focused approach to selling, renting and managing properties as we do.”
Read more about M&A in the UK estate agency market
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