first_imgHome » News » Agencies & People » Martin & Co parent company now No.2 lettings player in UK, latest results show previous nextAgencies & PeopleMartin & Co parent company now No.2 lettings player in UK, latest results showThe 15,000 properties added to TPFG’s existing property management portfolio from acquisition of Hunters are major boost.Nigel Lewis24th March 20212 Comments555 Views Martin & Co parent company TPFG and Hunters have announced their first joint results, revealing that the combined companies are now the No.2 player in the lettings market with 73,000 properties under management, and the largest franchised estate agency operator.In lettings this puts it just behind another merged entity, Connells and Countrywide, which has at least 90,000 properties under management between them.It is also now larger than its key rival Belvoir, which has fewer branches and properties under management.The TPFG/Hunters trading update for the 2020 year end, which comes just a few days after TPFG acquired Hunters for £24 million, also reveals that both companies increased their revenues from franchisors last year despite the pandemic lockdown.But the results show that the two companies, which employ similar business models, are different in several key ways.Average branch revenue at TPFG is £333,000 a year compared with Hunters’ £207,000, although Hunters was still growing compared to a relatively static TPFG last year.For example, Hunters increased its tenanted properties by 1,000 to 15,000 during 2020, while TPFG’s remained static at 58,000.But both companies enjoyed extraordinary recovering from Covid in their property sales – TPFG saw its sales agreed pipeline double by the end of the year, while Hunters pipeline was up by 80%.“I am very pleased to be announcing strong results in 2020 delivered by both The Property Franchise Group and Hunters,” says Gareth Samples, TPFG’s CEO (left).“Both companies have demonstrated their strength and agility under rapidly changing circumstances, progressing financially and operationally in the year. We are confident that bringing a strong, growing business into the Group will supercharge our expansion plans, delivering great value for both our shareholders and our franchisees.”Read our exclusive interview with both company’s chiefs.TPFG results Gareth Samples Hunters March 24, 2021Nigel Lewis2 commentsMichael Day, Integra Property Services Integra Property Services 24th March 2021 at 9:20 amAcquired Hunters for £2million. Really? I don’t think so.The acquisition valued Hunters at £24.2 million according to RNS to stock market.Log in to ReplyNigel Lewis, Online Editor, The Negotiator Online Editor, The Negotiator 24th March 2021 at 9:22 amthanks yes indeed £24 million. Thanks for pointing out.Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img

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