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TODAY'S OTHER NEWS

Agency spurred on by crisis to complete acquisition in weeks

A regional agency says the Coronavirus crisis was the opportunity for it to complete a takeover of a rival company in a shorter-than-expected period of time.

South Yorkshire and North Derbyshire operation Redbrik has bought Preston Baker Sheffield for an undisclosed sum.

Redbrik will be taking over the management of both Preston Baker’s lettings portfolio and currently available sales stock in Sheffield.

Mark Ross, managing director of Redbrik, has told Business Insider: “Preston Baker is a business we have always admired. They operate a fantastic estate agency, and we are delighted that they came, exclusively, to Redbrik when looking to sell their Sheffield business.”

He continues:  “We completed the deal in just a few weeks, which is a testament to the hard work and goodwill on both sides. The agreement ensures both parties will work collaboratively to ensure the handover runs smoothly for clients and the two businesses.

Ian Preston, managing director of Preston Baker, adds: “Preston Baker is focusing on operations in our core locations of North and West Yorkshire.”

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