Edward Symmons has acquired North East-based agency storeys:ssp.
The acquisition of the £4m pa business adds 71 staff to Edward Symmons, taking its total workforce to 285.
Edward Symmons chairman Paul Proctor said: “This is a key strategic move for Edward Symmons. It fits perfectly with our national business development ambitions. The economic climate remains challenging but we believe this is an ideal opportunity to create a robust platform for future growth while staying true to our niche offerings.
“Storeys:ssp gives us expert exposure and coverage within the North East property market and the firm’s specialist skills sets supplement our existing niche service provision – specifically in enabling us to strengthen our North East agency, rating services and offer full property management.”
He added: “The strength of the North East agency team is well known and will assist our regional LPA and corporate recovery offering. A full management service will also dovetail nicely. It is the opportunity to expand the core business of rating within the new network of 11 offices that provides particular attraction.”
Storeys:ssp was founded in Newcastle in 1891 and operates from five regional offices. Staff in its London, Manchester and Leeds offices will relocate to Edward Symmons offices, while the agent’s Tyneside and Teesside offices will continue. The two offices will trade as Storeys Edward Symmons.
Storeys:ssp chief executive Bill Lynn said: “Edward Symmons’ niche skills set directly complements our own, and the intention is to leverage off each other’s core services and regional coverage to develop our client base and increase market share. Having already developed strong relationships with the Edward Symmons team over the course of this deal, we recognise a real shared culture between our two businesses and see this as the start of an exciting new era.”
samantha.mcclary@estatesgazette.com
