Wed, 30 Jul 2025 | BUSINESS SALE
Independent lettings agency Dwelly has expanded its presence in the north of England with the acquisition of a lettings agency based in West Yorkshire. The acquisition of Pontefract-based Number 1 Letting adds 850 fully managed properties to Dwelly’s portfolio.
The deal continues a period of nationwide expansion for the firm, following a string of recent acquisitions in the UK’s lettings sector. The acquisition is Dwelly’s fifth agency purchase in under a year and means that the firm now manages approximately 3,500 units.
The acquisition, following previous takeovers in Brighton, Essex, Yorkshire and Suffolk, forms part of Dwelly’s goal of surpassing 10,000 units under management by the end of this year.
Number 1 Letting was launched in 2008, quickly establishing a solid foothold in the Yorkshire rental market. Following the acquisition by Dwelly, the company’s Managing Director Tracey Brown will remain with the firm, ensuring continuity for both clients and staff as the company enters its next phase of growth.
Dwelly’s Head of M&A Sam Humphreys said that the acquisition of Number 1 Letting represented “a fantastic addition to our portfolio and one that will allow us to considerably strengthen our foothold in the North.”
Humphreys added that Dwelly were “especially pleased” that Tracey Brown would remain with the business post-sale, saying that her “knowledge of the local market and commitment to her clients will be invaluable as we ensure a smooth transition, whilst maintaining the high standards Number 1 Letting is renowned for."
Number 1 Letting director Paul Singleton said that the acquisition “offers the best possible future for our clients and team.”
Singleton continued: "Dwelly's values align perfectly with our own and whilst I'm naturally sad to be stepping back from the business, I know that with Tracey continuing at the helm, the business is set to reach even greater heights."
Dwelly’s financial and operational due diligence was conducted by Letts Acquire Managing Director Jacqueline Kirkpatrick, who said that the process “revealed Number 1 Letting to be a superbly managed business with robust processes and outstanding client relationships, representing an excellent strategic fit for Dwelly's growth ambitions."
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