A residential sales and lettings agency has acquired a portfolio of clients from a UK property consultancy which has added £55 million of assets to its roster.
Birmingham-based FleetMilne has taken ownership of the private client letting business of Knight Frank in the city, growing its managed lettings portfolio by 20 per cent.
Two members of Knight Frank's staff, Iayana Samuels-Sheridan and Katie Pawley, will transfer across to FleetMilne, taking its team in Colmore Row to 14. Terms of the buyout were not disclosed.
Founder and chief executive Nicola Fleet-Milne began her career with Knight Frank in 2001 and said she had maintained good links with the firm over the last two decades.
"When Knight Frank was looking to divest itself of its Birmingham residential lettings business, we were the first port of call," she said.
"We are a trusted lettings agency and its largely international client base will fit in seamlessly with our own local, national and overseas investor landlords.
"The acquisition of the business fits perfectly with our strategy of growing our managed lettings service."
