A property firm with an office in Alnwick announced a deal last week which will see it join forces with another company in the sector.
North-East chartered surveyors and property consultants, YoungsRPS, will merge with commercial surveyors and estate agents, Stanton Mortimer, creating a new major player in the regional property market.
The merger will see Stanton Mortimer’s branches – Newcastle city centre and Northallerton – come under the YoungsRPS banner across commercial property, rural and residential agency markets.
The new locations will add to the existing YoungsRPS network of offices in Alnwick, Hexham and Sedgefield.
Following the merger, the overall head-count will stand at 35 across five branches, covering the North East, North Yorkshire, Cumbria and Scotland. The two brands will continue operating.
The move follows a successful year for independent firm YoungsRPS, which has seen turnover of £1.8million in the last 12 months and a number of major new commercial contract wins with regional housebuilders such as Anvil and Duchy Homes.
Following the deal, the business has plans in place to increase turnover to an expected £2.8million by May 2018.
Robbie Hutchinson, managing director of YoungsRPS, said: “We are delighted to be joining forces with Stanton Mortimer. The deal will add to our all-round property expertise by bringing extra strength to our commercial property department alongside our current residential and rural offer.
“The merger will further our presence across the North East and North Yorkshire, allowing us to offer an even better service for our valued clients.”