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TODAY'S OTHER NEWS

Agency bought out of administration with PropTech goal

Petty Estate Agents has acquired the real estate division of Cheshire-based Wright Marshall out of administration.

The deal safeguards the company after the wider Wright Marshall Group, which includes a rural auction mart and fine art auctioneers, entered into administration just over a week ago. 

The transaction does not include the rural auction or art auctioneer arms of the business.

Wright Marshall provides an commercial and residential lettings and sales service across seven sites in Cheshire, Derbyshire and Shropshire. This includes planning and development, valuation, sales and lettings.

Petty Estate Agents is one of Lancashire’s longest running independent estate agents, offering full sales, lettings and rental services since 1928. 

Chaired by Charlotte Hagan, the business has expanded from its head office in Burnley and is now a 45-strong team across seven locations.

Petty says it wants to create “a network of tech-enabled estate agencies across the North of England.”

As part of the transaction, Peter Barnes joins Wright Marshall as managing director in Cheshire and Derbyshire. 

Barnes has held positions in the property, sales and automotive sectors, and will be tasked with implementing the development in technology and improving operational efficiencies within the business.

“Our acquisition sees the merger of two strong heritage businesses, each with outstanding management teams and local and technical knowledge. The expansion into the Cheshire, Derbyshire and Shropshire areas is hugely significant and provides us with an excellent platform” says Charlotte Hagan, chair at Petty Estate Agents

“Capitalising on the latest technology will enable the incredible customer care shown by both businesses, presenting a huge market opportunity to create a regionally connected network of tech-enabled, community-minded, estate agencies. We’re confident that the enlarged group will thrive with the direction of Peter Barnes and the wealth of expertise within the team at Wright Marshall.”

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