Spencers dispose of property management business to rapidly expanding Countrywide

John Longstaff a director of multi award winning BHP Corporate Finance, acted as lead advisor on the sale of Spencers’ property management business to Countrywide Residential Lettings Limited. The business was sold for an undisclosed sum following a competitive sale process.  Shareholders Geoff Ackroyd, Anne and Jim Spencer have grown the business which manages a large portfolio of properties focusing on the residential market in the south west quarter of Sheffield. 

Spencers is a family run estate agency business with a name synonymous with property sales in Sheffield.  Anne and Jim Spencer will continue with the residential sales and estate agency business which will remain a major player in the local property market.

Matt Ainsworth and Paul Roberts from the Sheffield office of international law firm, DLA Piper provided legal advice to Spencers and Peter Newsam of UHY Wingfield Slater provided accounting and taxation advice on the sale.

Following the transaction Jim Spencer commented on behalf of the shareholders “having developed the business over recent years we are delighted to have found an excellent buyer in Countrywide.  We would like to thank our advisors who worked extremely hard during a long and often tiring process to ensure that the sale proceeded smoothly”.

John Longstaff commented “we have been working with Spencers during the past 12 months to identify, negotiate and agree terms with a suitable purchaser for its property management business.  This is a quality local business and I am confident it will continue to prosper as part of Countrywide”.

Matt Ainsworth from DLA Piper added “we are delighted to have worked with BHP Corporate Finance and Spencers on the sale of their property management and lettings business.  Spencers is yet another excellent example of a dynamic and well-run South Yorkshire business which has attracted the attention of a large national player of the calibre of Countrywide”.

Peter Newsam from UHY Wingfield Slater had the final word on the deal “we have acted for Spencers since the business was formed in 1993  and have been delighted to assist them with a number of tax and accounting related items culminating in the sale of their property management business “.