SBK Property Group has completed two acquisitions, extending its auction business across the UK and adding a specialist rural estate agency to its operations.
The Midlands-based group has acquired the master franchise and North Wales franchise of Town & Country Property Auctions (TCPA). It has also purchased Rural Scene, which specialises in rural lifestyle and equestrian properties.
Expansion beyond the Midlands
The deals expand SBK's operations beyond its Midlands base. The group grew out of Warwickshire estate agency Sheldon Bosley Knight.
SBK says the Town & Country acquisition makes it the UK's sixth-largest property auction business. Founded in 2010, Town & Country operates through 14 franchise locations across the UK.
The business joins SBK's existing auction operations, SBK Auctions and Auction House Loveitts. Meanwhile, Rural Scene adds a nationwide rural property agency business to the group.
Group targets wider property market
Mike Cleary, co-founder and chief executive of SBK Property Group, said the acquisitions form part of its diversification strategy. "As market conditions continue to evolve, diversification is increasingly important."
He said the group intends to operate across residential, rural and commercial property markets, alongside its auction businesses.
Neil McDonald, chief executive of Town & Country Property Auctions, said the company had been looking for a partner to support its next stage of growth. "Following a period of significant growth, we felt it was the right time to begin the next chapter of the business."
Edward Oldrey, director of Rural Scene, said its existing team would continue working with clients following the acquisition. "Our clients will continue to receive the same specialist advice and service from the team they know and trust."
SBK has not disclosed the financial terms of either transaction.
