Pattinson Estate Agency has strategically expanded its operations by acquiring a new office.
Located next to their North Tyneside headquarters, this move supports their growing service demand.
Pattinson Estate Agency, based in the Silverlink Business Park, North Tyneside, has strategically expanded by acquiring a second office as part of its growth plan. This move reflects the firm’s response to the increasing demand for its services. The new office, located next to their existing headquarters, is an integral part of their expansion strategy to support various departments including their regional call centre.
Earlier this year, Pattinson strengthened its portfolio by adding three North East estate agencies, bringing its total number of branches to 30. These include the acquisition of NS Bennett Estate Agency in Stanley, following the retirement of its owner, and the previous acquisitions of Ryedales Estate Agency in Cramlington, and Browns in Stockton and Norton. These strategic buyouts have necessitated the firm’s decision to expand office space to accommodate increasing staff numbers.
The new office space will primarily accommodate additional staff hired due to recent business growth. It will also house Pattinson’s national auction facility, which has seen increased activity following partnerships with various UK agents. Occupying the vacant ground floor, the firm continues to let the upper floor to existing tenants, providing an additional revenue stream.
In 2022, Pattinson reported a turnover of £14.7 million, demonstrating robust financial health and ability to sustain growth. With over 300 employees, the company offers extensive services, including residential and commercial sales, lettings, auctions, conveyancing, property management, and financial services. Group Managing Director, Justin Beckwith, highlighted the record-breaking year and the continued high demand for property as key motivators for their expansion.
A significant aspect of Pattinson’s growth is their auction arm. The firm has tapped into the growing popularity of property auctions, providing an attractive alternative for sellers. With a network of over 3,700 partner estate agents across the UK, their auction service has expanded significantly. The added office space will support this growth and ensure that the auction department services remain efficient and competitive.
The expansion is seen as a positive development within the North East property market. According to Chris Pearson from Naylors Gavin Black, the property’s purchase is a sound investment given its high-standard fit-out and prime location. It underscores Pattinson’s role as a key player in the region’s commercial property sector, enhancing confidence among investors and partners alike.
The strategic office acquisition by Pattinson underscores its commitment to growth and adaptability within the dynamic North East property market. This expansion not only caters to increased staff and service demands but also positions the firm for future opportunities in the estate agency and auction sectors.
Pattinson’s expansion signifies a robust response to growing market demands, enhancing its service capacity.
With strategic acquisitions and new facilities, Pattinson is well-positioned for continued success.
