Swindon firm sells busy lettings agency

By Anita Jaynes on 5 February, 2016

A Wiltshire firm of corporate finance specialists has arranged the sale of a lettings business based in south east London.

Watersheds, in Bath Road in Swindon, facilitated the acquisition of TG Baynes Estate Agents by Your-move.co.uk, which is part of LSL Property Services plc.

The lettings company has six branches in and around south east London.

The company, which was founded in 2003 by TG Baynes Solicitors, very quickly expanded and now has 300 properties under management and revenues in excess of £1 million.

It was originally set up to provide referrals for its conveyancing solicitors and help cut out the time delays between agent and solicitor.

The departure of the senior estates manager triggered an operational review and prompted the decision to sell the estate agency business so more focus could be given to the legal work.

Simon Potts, managing partner at TG Baynes Solicitors, said: “I was finding myself spending most of my time managing the estate agency business and decided it was time to look at our options.

“Watersheds did a fantastic job in proposing and discussing the different options available and then closely supporting us through the sale process. The outcome far exceeded our expectations and I was very impressed by the service from David and the Watersheds team.”

Watershed’s partner David Fletcher said: “Our client wanted to focus on the solicitors practice. It is tremendously satisfying to help them find the very best way of doing that.”