Acorn Properties and KIS Lettings: acquisitions eight and nine

Two agencies joined My Property Box in October 2022, lifting the total to nine acquisitions in four years — a neat way to mark its tenth birthday.

Acorn Properties Ltd was the bigger of the pair, a serious presence in Newcastle lettings. It advertised upwards of 800 properties a year, houses in multiple occupation among them, across a patch stretching west to Hexham, north as far as Alnwick and south into Durham. Its Jesmond office and all 14 staff came across intact, with co-owner Louise Greetham, who held it alongside John and Margaret Henderson, staying on to run it.

The second purchase was KIS Lettings, bringing 130 properties in South Shields, North Shields, Newcastle and Sunderland. Those went to sister company Groves Residential in Jesmond, and the last remaining KIS office, in South Shields, closed. In earlier years it had also traded from Welwyn Garden City, Sunderland and North Shields. Founder Ajay Jagota sold up to start a specialist tenancy compliance business.

Ben Quaintrell, who founded the group and leads it as managing director, said: "Both acquisitions highlight the significant growth trajectory of this business while further strengthening our position across Tyneside, Wearside, north Durham and Northumberland."

He offered incoming clients a personal assurance: "I personally wish to reassure the clients of both Acorn Properties and KIS Lettings that they can expect the same high standards of service whilst continuing to benefit from that all-important local knowledge and expertise."

Acorn director John Henderson looked back on nearly two decades of ownership: "Margaret and I bought the business in 2004 and along with Louise Greetham, her husband Simon and our dedicated team, we have established it as well-respected and vibrant family business. We are proud of our exceptional levels of service, something that we know will continue under My Property Box with Louise at the helm."

Jagota was moving on rather than winding down. He said: "I founded KIS with the ambition to become the North East's best lettings business. I've thoroughly enjoyed the experience, but it's the right time to move on to a new venture - which sees me continue my association with the property sector with the launch of tenancy compliance service, Veriwise."

A sale need not be the end of anything. Retirement, a fresh venture or releasing capital are all sound reasons to talk, and we are happy to sketch out what a deal might look like.