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Written by rosalind renshaw

Davis Tate, one of the best-known firms in the Thames Valley, has joined the LSL group, parent company of Your Move and Reeds Rains.

The deal is part of the investment and exit strategy offered by LSLi, a wholly owned subsidiary of LSL and headed by Jon Cooke.

It means that there will be no change to the existing management or staff structure of Davis Tate or to its brand. Joint managing directors Matthew Davis and David Tate will stay on for five years before retirement from the business.

The pair launched the business as a product of the early nineties recession, in a one-room village office in 1991. It has since grown to a nine-branch network, covering 14 locations, with 55 staff, including five personal estate agents.

They have long been exponents of what they call ‘joined-up estate agency’ and ensure that all front-line staff can deal with both sales and lettings. Currently, around 60% of the firm’s business is in sales and 40% in lettings. The company has a strong local reputation and has won several awards.  

Jon Cooke, managing director of LSLi, said: “We have been in discussions with Davis Tate for a number of months and are looking forward to our businesses growing to mutual benefit. David and Matthew have been at the helm of the business through good and bad markets, and have always shown an appetite for growth.

“With LSLi able to provide investment, we look forward that growth continuing.”

David Tate said: “This major investment from LSLi enables us to provide staff security and the potential for personal career development within a group that can now grow with the resources of a respected plc.

“Matthew and I look forward to working hard with our new colleagues and existing team to grow as a stronger force in our local market. We acquired a new business in Abingdon in 2011, and have a tremendous appetite for further expansion during 2012.”

Comments

  • icon

    The City so impressed the share price has dropped loads!

    • 10 February 2012 16:23 PM
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    Bet they don't last 5 years under that lot! What a shame a great agency lost to the Corporate world, are they issuing white socks out?

    • 10 February 2012 16:21 PM
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    Great firm Davis Tate.

    • 10 February 2012 16:20 PM
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