LSL purchases rental company in the North West and Yorkshire regions. – TNT

LSL Estate Agency Franchise, Favsco 23 Limited, which trade as Reeds Rains from 46 locations across the North West and Yorkshire, has announced the acquisition of the Coulby Conduct lettings business.

The deal was made as co-owner Richard Coulby took the decision to retire after 43 years in the industry. Co-owner Neil Conduct will look after the transition and will then continue to run residential sales across Coulby Conduct branches.

Coulby commented: “We spoke to a few companies that we thought about selling to but decided that Favsco 23 were better placed to look after our clients in the mid-Cheshire area due to their reputation. Having worked for Reeds Rains in my early years I have respected them as a competitor ever since.”

The acquisition involves a 250-strong managed landlord portfolio moving over to the Reeds Rains Northwich branch. Three key lettings staff will continue to look after the clients at Reeds Rains.

As the portfolio integrates into Reeds Rains’ operations, landlords will benefit from new features such as the Reeds Rains portal for landlords, Fixflo, and new landlords to Reeds Rains will get access Propoly.

Nigel Favas, Favsco 23 Limited director, commented on the acquisition: “We’re delighted to be able to carry on providing the same high level of service to the Coulby Conduct lettings customers that they have been used to. Continuing with the existing lettings team from Coulby Conduct will be key to this. Landlords and tenants will still have the same friendly faces helping them as they did before.”

Kate Ashley Ives, franchise director at LSL, said: “It has been great to work with Favsco 23 to support them with their first acquisition as they continue to grow their business. They will deliver great service to their landlords and tenants, and we are looking forward to their future growth and continuing our support with them.”