Leading UK Estate Agents Announce Merger

Two leading UK estate agents’ firms - Carter Jonas and Dreweatt Neate – have announced their merger today, thus creating a new force in the UK property market. The merger will take place on May, 1st 2009 and the new company’s name will be Carter Jonas. Currently, Carter Jonas has 20 offices in the England and Wales, while Dreweatt Neate operates 11 offices in southern England. The merger will result in larger and stronger estate agents’ firm running 31 offices with a staff of 400+ employees and a combined turnover of £30 million. There are several key reasons for the merger. The first is greater geographical coverage. Each firm now operates in the areas where the other does not. The merger will allow the company to offer its clients a truly nationwide service. The second one is access to a greater number of specialists and to new intellectual capital. The merger is expected to have six main divisions of specialist teams. The third reason is scale. The company will become larger, thus it will be easier to handle serious projects in the times of peak workload. And the last, but not the least reason is better recruitment potential: the company is expected to become more attractive for potential recruits and to provide more opportunities for career building of current employees. The management structure of the company is already being formed with Mark Granger of Carter Jonas being appointed the Chief Executive of new Carter Jonas, John Henniker-Major of Carter Jonas – Chairman, and David Smith of Dreweatt Neate - Senior Partner.