Gloucestershire estate agency O’Connell has announced a merger with rapidly expanding international group, Partners Real Estate (PRE).
The Tewkesbury based property business joins the group, which has offices in the UK, Isle of Man and the United Arab Emirates – with PRE now planning to open new branches in Gloucestershire and elsewhere in the UK, as well as recruiting extra staff.
O’Connell Property Agents was formed in 2007 by Faye and Roy O’Connell and the merger strengthens a family connection: Brendan Beeken, Partners’ founder and chairman, is Roy’s brother.
The deal will see both Roy and Faye becoming partners in PRE, while Roy takes the role of Head of Real Estate for the group.
Mr Beeken said: “This is the culmination of a long-held ambition of my brother and I to work together. I’m delighted we have been able to make this a reality and look forward to being part of the business’s growth.
He added that their relation was not, however, a primary consideration: “Our group identified the potential for this trusted business to build on its reputation for quality service and further enhance its position as a leading name in the Gloucestershire property market.”
O’Connell Property Agents’ move marks a major step in ambitious plans for PRE which, as a new player in the market, is establishing itself with a series of strategic acquisitions and expansions.
Mr Beeken explained: “We have identified and acquired outstanding property companies which share our values and vision of providing first-rate service to buyers, sellers, tenants and landlords. As part of the group, the businesses we acquire gain access to the resources and investment needed to grow and enhance their services and presence.”
He added: “O’Connell stood out as a business which perfectly aligns with the Partners ethos. I am delighted to welcome Roy, Faye and the entire team to our group.”
Over the past 17 years, O’Connell Property Agents has become established in the residential sales and rental markets in Tewkesbury, Cheltenham, Gloucester and the surrounding areas.
Following the merger, Mr O’Connell said exciting times lie ahead: “Brendan and I have often talked about the possibility of working together, and I’m thrilled that is now happening. Together, we can build on what has been achieved over the past almost two decades and bring the unrivalled O’Connell Property Agents service to even more property buyers and sellers, landlords and tenants, across Gloucestershire.”
He added: “For now, it will be ‘business as usual’ for our existing clients and team as we continue to provide the high-quality service that has established O’Connell Property Agents as a leading real estate agent in Gloucestershire.”
As part of its expansion, PRE would like to hear from people within the industry who may be interested in joining the group: “The group would also like to hear from sales or letting agencies, in the residential or commercial markets, which would like to discuss the acquisition of their business.” Partners can be contacted by emailing
[email protected].
