Multi Let UK (MLUK) acquires the property business, Phoenix Rentals from the managing director, Rob Stewart. The 218 unit rental company was sold due to the sad loss of a family member and its main office was closed on the 30th June 2019.
The Managing Director of MLUK made the following statement about this business move:
“Within an ever changing market and industry of increasing legislation, restriction and regulation placing increased pressure on independent businesses in recent years we have turned our growth model for Multi-Let UK (MLUK) towards the mergers and acquisition space and are pleased to see this strategy is continuing to yield success. Throughout 2019/2020 it is our intention to make several acquisitions, primarily in the HMO management space and our purchase of Phoenix Rentals is a clear indicator of the success of MLUK in this sector”
“We were able to take advantage of this high quality opportunity in no small part due to our liquidity and our policy of always completing quickly on any arrangement, allowing us to structure a deal in this case that has been beneficial to all parties. Working with Rob Stewart and Phoenix within this acquisition was a pleasure and to date the transaction has worked out incredibly well.”
“Multi Let UK is always looking to increase the size of its national portfolio with good quality, sustainable stock and if any landlords or property owners would like to discuss a similar transaction, then I would recommend that they contact our Head of Acquisitions and Business Development Damon Hill for an initial no obligation chat on 0330 600 0589 or email Damon.Hill@Multi-Let.co.uk”
Multi Let UK, which operates as part of the wider PPN UK Group, operates 1,000+ HMO rental units from its Nottingham Head Offices with 7 local offices around the UK.
This most recent acquisition will allow Multi-Let UK to further increase its efficiencies, economies of scale and capacity for further growth despite the numerous challenges the industry and its competitors currently face.
Multi-Let UK is a leading name in the professional house-share accommodation market operating the largest network of HMO Portfolio Management companies in the country.
Launched under PPN UK in 2014 by Managing Director, Daniel Hill, a key factor in the company’s success has been an enduring commitment to outstanding levels of customer service to both tenants and landlords.
If you are a landlord looking for a new management company or an agency that would like to discuss the opportunity to be acquired by Multi-Let UK, please contact Head of Acquisitions and Business Development Damon Hill for an initial no obligation chat on 0330 600 0589 or email Damon.Hill@Multi-Let.co.uk