"We have served in the North Leeds area for 22 years and the opening of this new branch will allow us to strengthen our leading position amongst Leeds suburbs. It creates the perfect platform for foc"
Will Linley, CEO
Yorkshire residential property specialists Linley & Simpson, have further strengthened their position at the forefront of the market by opening a new office in Headingley, after acquiring long-standing lettings specialists, Morgans North Leeds Rentals.
The opening increases the number of branches in the Linley & Simpson network across West and North Yorkshire to 18, and propels its own portfolio of managed homes to over 8,000.
The purchase of Morgans North Leeds Rentals – whose specialism in the Headingley area dates back more than 20 years – is seen as a natural progression in Linley & Simpsons continued expansion. Will Linley, Chief Executive of Linley & Simpson, says, “We have served in the North Leeds area for 22 years and the opening of this new branch will allow us to strengthen our leading position amongst Leeds’ suburbs. It creates the perfect platform for focussing our specialist lettings expertise into this popular Leeds’ area where demand for rented property continues to increase”.
This is one of the latest deals as part of the businesses planned programme of major expansion throughout Yorkshire. The business is retaining the home-grown expertise and local knowledge of the former Morgans team by employing all of its staff.
Sarah Roberts, Headingley’s Lettings Manager, says, “We have always dealt solely with professional lets, and are the only agency in Headingley that focuses entirely on this sector, so we have a real understanding of what the professional market is looking for. The combination of our knowledge and expertise within the area, shared with Linley & Simpson’s unique methods and use of technology, will contribute to the high levels of customer service we can offer to our new and existing customer base and drive innovation to another level.”
The takeover coincided with a record summer of new lets for the Headingley branch, with the firm’s rental portfolio currently being 99.7% occupied. Sarah adds, “Headingley is experiencing a continuing shortage of rental property as the area continues to transform itself from a student enclave into one of the UK’s best performing areas for property investors.
“There is a major shortage of properties available to rent at the moment and the branch is experiencing high occupancy levels. We have a growing economy and a growing population but we haven’t got enough property to satisfy the demand. As well as record occupancy levels, we have seen an increase in the amount of time tenants are staying at the property. Typically, the majority of tenants would look at what the market has to offer between 8 and 12 months, and many would choose to move. As supply has shrunk and fewer options are available, 5% more tenants chose to stay put this year than they did during 2018.
“It’s clear that the whole fabric of Headingley is suitable for property investors. Rent prices have risen by 4% in the past year and the suburb is one of the most accessible places in the UK, with its excellent transport links, good schools and a raft of new food and drink openings, Headingley is very much an up-and-coming town that’s still growing in popularity as a place to live.”
The passion the business holds for letting homes is underpinned by their service to the community. Sarah continues, “We are taking part in the Christmas Window Competition organised by the Headingley Rotary Club in aid of Sue Ryder’s Wheatfield Hospice. We’re committed to supporting the community in every way we can, and we’re thrilled to be able to contribute to delivering more attraction to the town, and raise the Christmas spirits amongst the local community”.
For further information please visit www.linleyandsimpson.co.uk or call the branch direct on 0113 2179090.