PROPERTY: Major stakehold sold to Connells

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SHARMAN Quinney, the area's largest estate agency network, has sold a major stakeholding to Connells, one of the country's leading estate agencies, for an undisclosed sum.

SHARMAN Quinney, the area's largest estate agency network, has sold a major stakeholding to Connells, one of the country's leading estate agencies, for an undisclosed sum. Co-founders Mike Sharman and Steve Quinney retain a 25 per cent stake in the business and both will continue to manage the 12 Sharman Quinney branches throughout the Greater Peterborough area.

The branches, which employ 95 staff, will retain the Sharman Quinney name and branding, under the new ownership structure.

With the acquisition of Sharman Quinney, Connells now has a network of 164 branches throughout the Midlands, East Anglia, Home Counties, South England.

Commenting on the acquisition, Connells chief executive Stephen Shipperley said: "Sharman Quinney is a very high quality business run by an experienced and dynamic team.

Like Connells it is committed to offering the highest standards of customer service whilst at the same time maximising business opportunities across a wide range of housing related services. We are looking forward to working with Mike and Steve and their team to develop their business over the coming years."

Mr Sharman said: "Connells and Sharman Quinney are very closely matched businesses, both culturally and geographically. This coming together is a very logical step for both organisations."

Mr Quinney added: "We have big ambitions for Sharman Quinney. Being part of a larger group, with the backing it brings, makes the future very exciting for all of us at Sharman Quinney."

>> Sharman Quinney website