Major regional agency Humberts, which was bought out of administration last year, has announced the first acquisition since its new owners took charge.
The agency has acquired Scott Bainbridge, a sales and lettings agency based in Kendal in the Lake District.
Humberts says the acquisition will increase its Lake District portfolio by 25%.
The acquired agency's owner, Iain Bainbridge, will remain with the company as a consultant. However, the Scott Bainbridge office will close immediately, with business to continue from Humberts' Windermere office. There will be no staff redundancies.
The agency has also confirmed that there are further acquisitions ‘in the pipeline’.
"With our focus on expertise and service, it’s business as usual in the Lakes, and we are delighted to bring Scott Bainbridge into the fold, as one of the industry’s leading players in the North of England," says Matt Spence, owner of Humberts.
"We are particularly thrilled that this grows the lettings side of our business by 15%."
Last May, Estate Agent Today revealed that Humberts had been purchased by Natural Retreats, a leisure and travel firm which provides luxury holiday experiences in coastal, countryside and wilderness locations around England, Scotland, Wales and the US.
The purchase, organised by restructuring specialist Begbies Traynor, was finalised following weeks of public speculation about the historic agency's future.
Since taking charge of Humberts, Spence has been outspoken about the state of the UK estate agency industry, once describing it as 'asleep at the wheel'.
Over the last year, the company has focused on developing its 'high tech, high touch' concept, which champions regional hubs rather than traditional offices.
The agency recently announced the launch of Humberts Living, a lifestyle division which focuses on a wide range of property-related services including building work, removals, gardening, cleaning and interior design.