Erinaceous acquires North West lettings business
9 June 2004
Download this Press Release in PDF format.
The Board of Erinaceous Group plc (“Erinaceous”), the one stop shop property services group operating in the public and private sectors, announces the acquisition of Jordans, a branch network of residential letting and property management businesses based in the North West of England.
Jordans, a partnership established in 1980, has offices in Manchester, Altrincham, Wilmslow, Macclesfield, Warrington, Sandbach and Chester and employs some 60 people. The business is headed by Robert Jordan, who is also President of ARLA (the Association of Residential Letting Agents). The turnover of Jordans for its last financial year was £2.3 million. The total consideration payable is £2.8 million of which £2 million is payable in instalments over four years.
Commenting on the acquisition, Neil Bellis, Chief Executive of Erinaceous, said: “We have been working very closely with Robert Jordan and his partners for some time developing and refining products and services for the residential lettings sector.
“Robert is a well-known and respected figure, with a wide range of contacts in the industry, who will help us develop our residential lettings services division.”
For further information:
| Neil Bellis, Chief Executive |
|
Jeremy Carey / Marylène Guernier |
| Erinaceous Group plc |
|
Tavistock Communications |
| Tel: 0870 703 9898 |
|
Tel: 020 7920 3150 |
Notes to Editors:
Erinaceous Group plc floated on AIM in November 2003. Its three main operations are:
Residential Lettings Services (Hanover Park Services Plc)
This division is a major provider of support products and services to the residential lettings market, including the buy to let sector. Operating nationwide, it supplies: tenant references; rent guarantee products; software solutions for lettings agents and landlords; and insurance products for both landlords and tenants. Brands include Homelet and Letplan.
Insurance Services (Hanover Park Commercial Limited)
Insurance Services provides a comprehensive range of insurance products and services, both as a conventional insurance broker and as a scheme provider, marketing targeted insurance solutions aimed at specific industry sectors both direct to clients and through fellow agents as sub-brokers. The range of insurance schemes aimed at specific market sectors includes: the plastics industry; funeral directors; media production companies; buildings and contents insurance; and professional indemnity insurance for solicitors.
Property Services (Haywards Property Services Limited and ISG Occupancy)
Haywards Property Services comprises the following four divisions which are each responsible for specific areas of activity but work closely together so that the client can receive a variety of services from a single source:
- Public Sector Housing: provides housing services to the social housing sector including local authorities and housing associations. The range of services provided includes: all aspects of housing management; leasehold management; resident involvement and participation; building maintenance and technical services; estate services including cleaning, grounds maintenance and concierge services; community regeneration services; and homelessness assessment and housing advisory services.
- Residential Management: manages private residential properties throughout London. Professional property services are provided to a portfolio of 16,000 homes on behalf of resident management companies, property developers, private landlord investors and trusteeships.
- Building Consultancy: provides professional services for building design, maintenance and construction management projects. It undertakes projects across a broad range of developments in the residential, education and health sectors, including a recent £12 million housing regeneration scheme for Westminster City Council. Areas of specialist expertise include: architecture; surveying; structural engineering; mechanical and electrical engineering; project management; planning supervision; and urban regeneration.
- Facilities Management: provides day-to-day maintenance and repair services together with planned preventative maintenance to properties managed by the Group. The services for the division are targeted at local authorities and housing associations throughout Greater London and at the private sector management division.
ISG Occupancy, the commercial property manager, was acquired from Interior Services Group in May 2004.
ISG Occupancy comprises four divisions:
property management, facilities services, facilities management and workplace advisory services. The company operates from premises in London, Manchester, Bradford and Bristol.
