A growing estate agency has revealed that it has hit a significant milestone of 14,000 properties under management.
The achievement puts it ahead of Foxtons but some way off its larger competitors such as The Property Franchise Group, which has some 150,000 homes within its portfolio.
Dwelly has announced the new figure following the acquisition of Kensington, London letting agency Shaws, its ninth so far this year. This deal adds some 250 properties under management to the overall Dwelly portfolio, tipping it over 14,000.
Shaws was established in 1994 and currently has a dozen staff based at its single branch in Barons Court (pictured). ‘Shaws’ is a common name in London for estate agencies, including Shaws of London and Shaw and Co, both of which are not connected to the Barons Court Shaws.
It is well known for its expertise within the prestigious and large Queen’s Club Gardens market and has earned a reputation for delivering a highly personalised service built on local knowledge and long-standing client relationships.
Next phase
Managing Director Dan Glewis will remain with the business, ensuring continuity for landlords, tenants and colleagues as Shaws enters its next phase under Dwelly ownership.
Outgoing Chief Executive of Shaws, John Reed, who until now was a major shareholder in the company, adds: “Joining the Dwelly group gives us access to industry-leading technology and operational support whilst allowing us to continue delivering the local service and expertise that our landlords and tenants know us for.
“We’re excited about the opportunities this creates for both our team and our clients and we’re looking forward to building on the strong foundations already in place and taking the business into its next chapter.”
Sam Humphreys, Head of M&A at Dwelly, says: “Continuing to invest in London is a hugely important part of our long-term strategy as the capital’s rental sector continues to be underpinned by exceptionally strong demand for high-quality homes.”
Dwelly, which is in effect a property software development company, is taking an unusual approach to client acquisition, growing its ‘customer’ base via the acquisition of 18 firms to date, which then integrate with Dwelly’s platform but keep their brand identity, staff and management. The company recently raised some £69million to fund its acquisition spree.
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