easyProperty has exchanged contracts on a £35 million property portfolio, which it claims to be the largest deal carried out by an online estate agency.
The off-market transaction was for a mixed-use portfolio, which includes 208 properties across London and Essex – 114 of which are residential.
The portfolio was acquired from a North London family trust and easyProperty says that through development and active management, its capital value could increase to approximately £50 million.
"This is the most significant deal we have achieved since establishing two years ago," says Rob Ellice, chief executive of easyProperty.
"It also happens to be the largest transaction by an ‘online agent’ both in terms of value and size."
He says the deal proves his firm as a 'full service agency' that is ready to rival 'traditional property companies'.
“This acquisition is a strong indication of investment appetite in the market, especially in the wake of Brexit," according to easyProperty's head of commercial and investment, Nick Harston, who says that the portfolio attracted strong interest from several parties.
This month, easyProperty is celebrating its two-year anniversary since launching in the lettings market.
Its also one year since the firm launched into the sales market, when it gained notoriety for a press stunt marking 'the death of the high street estate agent'.
Earlier this year, one of easyProperty's competitors, My Online Estate Agent hit the headlines for marketing a London mansion for £24 million – thought to be the most expensive instruction taken on by an online agent.