East Yorkshire estate agency Oscars has acquired Hull's Gro Residential Management in a deal that establishes a 17-strong operation. The transaction, for an undisclosed sum, sees Anlaby-based Oscars purchase the property management company from Hull-based Garness Group.
Acquisition Amid Sector Change
Oscars said the acquisition arrives during one of the most significant periods of change in the private rented sector, following the introduction of the Renters Reform Bill. Alisdair Bott-Francis, who founded Oscars 18 years ago, said he is delighted to be bringing together two experienced and committed teams.
He said: "We are absolutely thrilled to add the Gro Residential Management team to the Oscars family. They each bring a wealth of experience, professionalism and industry knowledge, which will be a tremendous asset to our business and to the clients we proudly serve. Just as importantly, their arrival complements the strength of our existing team, whose loyalty, dedication and hard work have played such an important role in the continued success of Oscars over many years."
Building on Long-Standing Relationships
Mr Bott-Francis, alongside Oscars director Paul Callis, who joined the firm late last year, have maintained a long-standing relationship with Garness Group founder and managing director David Garness. Mr Callis first worked with Mr Garness more than two decades ago while building his own property portfolio, purchasing many of his early investments through the Garness Jones commercial property team.
Mr Callis added: "We are incredibly proud that David has trusted Oscars with the Gro Residential Management business, its staff, and its clients. There is a strong history between our businesses, and we are committed to carrying forward the excellent service already established while continuing to invest in people, systems and relationships. The trust built between our businesses over many years has made this a natural fit, and we are excited about the opportunities this acquisition creates for both our team and our clients. Bringing together two strong teams gives us an exciting platform for the future, and I am genuinely looking forward to the continued growth of the Oscars family in the years ahead."
Garness Group Focuses on Core Activities
Mr Garness explained the transaction will enable Garness Group to concentrate on its core activities of commercial property, development and investment through Garness Jones, and specialised residential block management through Pure Block Management, across Yorkshire and The Humber, with both businesses operating from offices in Hull and York.
He continued: "I'm extremely proud of the success we have had with Gro Residential Management, and really pleased also that we have been able to turn to a company in Oscars which has similar values to ours in terms of its complete commitment to customer service. This move allows us to focus on the continued development of Garness Jones and Pure Block Management, each of which have built upon decades of success in the Humber region with significant growth in recent times following the opening of offices in York. I was very keen to find an East Yorkshire-based business to take on Gro Residential Management, and retain the current team, as it was important to us that our high service levels were maintained for our long-established clients. We know we have found this in Oscars and we wish them, and of course our team members who have moved on, all the best for the future."
