Nicolas Van Patrick (NVP) in Knightsbridge has completed the acquisition of the lettings book of renowned Chelsea agency Aylesford International.
This is the third boutique agency NVP has acquired, after purchasing Hobart Slater in 2018 and Chelsea lettings and management company HLR last year.
Nic Pejacsevich, director of NVP, said: “Since founding NVP ten years ago, it has become increasingly clear that sustainable rental income is vital for the long-term viability of an agency. Amidst shifting market dynamics – including geopolitical uncertainty, ongoing global instability, evolving UK taxation policies, and the disruption of Brexit – COVID-19 introduced an unforeseen curveball that further accelerated a strategic pivot from sales toward the more consistent, recurring revenue generated by lettings.
“While NVP has a strong sales background, we now have an equally vibrant, and important, rental business, built largely through acquisition. We are excited to include Aylesford’s rental business because it is such a well-known and respected brand. It feels like a meeting of minds with a similar ethos – a boutique agency with great attention to detail and close relationships with clients.
“We are thrilled to further strengthen our presence in the Chelsea area, while retaining our Knightsbridge base.”
With the continued support of Boron, the investment company of the J. A. Fentener van Vlissingen family, NVP says it remains on the lookout for further acquisitions if the right opportunity presents itself.
Andrew Langton, chairman of Aylesford International, commented: “After many years working in the World’s End, I am handing over the keys to our rental business to the more-than-capable team at NVP. We decided the time had come to find a young energetic firm operating a larger management book with more advanced technical skills to manage our loyal clients’ requirements. NVP fitted that criteria to the letter and we couldn’t be more pleased to have concluded the transaction knowing both clients and tenants will be in safe hands.”
Read the orginal article: https://propertyindustryeye.com/agency-completes-acquisition-of-rivals-lettings-book/
