A BOURNEMOUTH-based national estate agents has acquired a similar business in Boscombe as it expands across the conurbation.
Martin & Co, a leading property management, lettings and estate agency based in St Stephen’s Road, took on Lovett Estate and Letting Agents in Christchurch Road earlier this week.
Lovett's founder, Maximillian Ziegfried De Kment, has chosen to semi-retire, entrusting his business to Martin & Co to ensure “continued excellence” in an increasingly challenging market.
Philip Skorochod, franchise owner of Martin & Co Bournemouth, said: “We are thrilled to welcome Lovett’s clients & staff into the Martin & Co family.
“Our clients will benefit from Martin & Co's broad industry expertise and innovative technology, while still receiving the personal touch that Lovett is known for.
“This partnership is about enhancing what we already do best.”
In a letter to clients, Maximillian explained the careful consideration behind his decision to sell the business, writing: "The lettings industry is heading for tighter regulation in all areas.
“After meeting with several local agents, we have chosen Martin & Co as they are best placed in the market to provide ongoing support and compliance with regulatory changes in order to protect your investment."
Martin & Co acquired the Boscombe-based estate agents to expand its presence in Bournemouth and Poole.
To ensure a smooth transition, Martin & Co has reassured clients that there will be “no immediate changes” to the terms and conditions of their contracts.
Rent payments will continue to be processed through the Lettings Partnership, a system that Lovett had already transitioned to prior to the merger.
And in the coming month, Martin & Co said it will focus on ensuring all legal requirements are met, including sending new prescribed information packs to tenants as deposits are transferred to Martin & Co’s DPS custodial account. Full implementation of these changes is expected by October 1.
The decision to partner with Martin & Co was not taken lightly, Maximillian said, adding: "I know that you are in very safe hands with Martin & Co".
Many of the familiar Lovett staff members will also be moving to Martin & Co offices in Southbourne & Ashley Cross, ensuring continuity in the level of service clients have come to expect.
Steve Ballam, franchise owner of Martin & Co Poole, said: “As Martin & Co integrates Lovett Estate Agents into its operations, the merger is expected to enhance the company’s service offerings, providing clients with an even higher level of support and professionalism.
“The company is excited about the future and looks forward to continuing to deliver outstanding service to its expanded client base.”
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