A Midlands commercial property agency has completed the next phase of its growth by acquiring the core part of a regional surveying consultancy.
Holt Commercial, which has offices in Coventry and Birmingham and covers the whole of the region with a range of property services, has bought the property management portfolio of Binley-based Drake Howard Property Limited.
It will see two members of the Drake Howard team – Marie Farrell and Fiona Beattie – join the Holt Commercial team full-time. The principal, Martyn Howard, will stay on with Holt as a consultant for two years to provide continuity while servicing survey and lease related instructions of his own.
Martyn started the business more than 11 years ago after branching out on his own, having previously been part of the D&P Holt team for 14 years.
D&P Holt later become Holt Commercial and has been on a drive for growth over the past 18 months with the appointments of Tom Lyttle and Edward Jenkinson.
Nick Holt, director of Holt Commercial, said: “We are thrilled to complete the acquisition of the property management side of Drake Howard Property.
“It is an area of the business that we have wanted to grow for some time and this deal made perfect sense for all parties.
“We know Martyn well from his time with us previously and the acquisition provides a very good, seamless fit. Marie Farrell has also been part of our team previously so it really does make great sense and means we can expand this part of our service knowing we have trusted professionals joining our already growing team.
“These are very exciting times for Holt Commercial and this brings further potential for growth.”
Within the deal, Holt Commercial has acquired around 50 existing management properties which are in Coventry, Warwickshire and the south Midlands.
Martyn added: “I know Nick and the team at Holt extremely well having been there for 14 years, many of which were as a director.
“I decided I wanted to start a commercial property consultancy of my own specialising in property management side, and it has worked out very well. I recently decided that I’d like to start to think about a retirement plan and this deal means I can begin that process, knowing that my clients remain in the long-term safe hands of Marie, Fiona and the team at Holt Commercial, while I deliver the transfer over the next two years.
“Holt is the most established name in commercial property in this area, so I am pleased that we’ve been able to complete this deal, which is great news all round.”