Private equity-backed estate agency group Linley & Simpson has expanded into the student rental market with its latest acquisition.
Sinclair Properties in York marks the group’s first dedicated venture into the student lettings market.
The acquired business, founded in 2000, will retain its name, branding, team of staff, and offices on Lord Mayor’s Walk and Main Street, Heslington, as part of the agreement.
As part of the deal, more than 300 properties managed by Sinclair have transferred into the Linley & Simpson group portfolio, which now includes more than 12,000 homes across North, West, South Yorkshire and the Humber.
Sinclair founder Niall McTurk, who was also previously chairman of the York Residential Landlords’ Association for 18 successive years, will remain with the agency to ensure a smooth handover, before retiring later in the year.
McTurk said: “As co-owners, my wife and I have been seeking a buyer who shares the same values as ourselves and who will look after both our excellent staff, our valued client landlords and fantastic tenants, whilst being capable of taking our business forward.
“We are delighted that Linley & Simpson share our values and we believe are ideally placed to further develop our award-winning business.”
Linley & Simpson founder and chairman, Will Linley added: “With its market-leading position in York, unrivalled reputation and well-respected brand to match, we are delighted to welcome Sinclair Properties and its great team of staff to our business.
“York is one of the UK’s leading centres of higher education with around 25,000 students studying at its two universities.
“Sinclair Properties manage the largest portfolio of high-end student homes in York, the quality of which is a credit to both Sinclair’s but also to their caring landlords.”
Linley & Simpson now operates a network of 23 offices across Yorkshire and the Humber, including a flagship base at Low Ousegate.
The group has been backed by LDC since 2018 and recently merged with Lomond Capital in a £100m deal.