“At a time when many firms are hunkering down, Sequence Lettings is in the market for acquisitions,” says Simon Cross, Divisional Managing Director for Sequence who helped orchestrate the deal. “We have been very successful at meeting Atwell Martin’s terms and conditions, completing the deal on time and ensuring their landlords receive a seamless transition to Sequence Lettings, which trades as Allen & Harris in the Wiltshire area.
Although the acquisition was completed at the end of April, there was a three month transition period, where Allen & Harris staff worked out of Atwell Martin’s branches, followed by a one month migration period, during which all Atwell Martin’s lettings data was transferred to Sequence’s back office systems and information supplied to landlords and tenants about the new management.
“The need for careful, gradual migration was crucial to the success of this deal,” Simon continues. “We placed some of our most experienced lettings agents in Atwell Martin’s branches to ensure landlords were comfortable with the changes taking place and slowly introduce them to Sequence Lettings and some of the services we can offer.”
Robert Atwell, Chairman of Atwell Martin, was highly impressed with Sequence’s approach. “When we decided to sell our residential lettings portfolio there was a lot of interest. We chose Sequence because they were the most professional and we did not regret that decision. The deal went through on the day we had agreed and with no problems, Sequence successfully transferred our staff to new positions in accordance with TUPE regulations* and there was no attempt to negotiate on the originally agreed price. All-in-all, it was one of the easiest deals we could have hoped for.”
“Sequence’s residential lettings business has repeatedly shown it is the best in the industry,” Simon continues. “We offer an extensive range of services to landlords and tenants, and over the last year have invested heavily in extending the lettings business to more of Sequence’s residential branches. I am delighted that we could work with Atwell Martin to take over management of their residential lettings business, especially because it is already a successful and well-established lettings service in the Wiltshire area.”
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