King’s Lynn buy-out extends property firm’s regional reach
06:00 14 January 2014
© Keith Whitmore
A Norfolk-based letting agency has extended its reach across the region by snapping-up a business in King’s Lynn.
Steggles Larner Property Management has bought Granville Associates & Anglia Surveyors after securing a £60,000 loan through the government’s funding for lending scheme.
The move will increase the company’s turnover by 15pc in its first year, create a new position and secure all the existing jobs at the acquired business.
James Steggles, co-owner, said: “Chris Moreton of Granville Associates & Anglia Surveyors was looking to retire but didn’t want to sell the company to a big corporate. It’s a great investment opportunity for us and will help us change the dynamic of our business. We’ll now have the capacity to introduce more of a management structure.”
The firm, which specialises in commercial and residential property letting, acquired the loan through Natwest. It has offices in Norwich, Dereham, Downham Market, Watton and King’s Lynn.
Richard Williamson, senior relationship manager at Natwest, said the firm has a wealth of knowledge in its field and works hard to follow industry regulations.