Completed sale
How RK Estates & Lettings Property Management & Construction Was Sold to Adam Rajpal | Case Study
Knightsbridge draws on its buyer pool to generate offers for RK Estates & Lettings Limited…
Our client is a Stoke-on-Trent based property management and estate agency that lets and sells, manages and maintains, a range of property types.
The company was founded in 2019 by Robert Adams and Kelly Alcock, who put the R & K in RK Lettings.
As well as dealing in professional and commercial properties, RK specialises in student house-shares, flats and studios for those who attend Staffordshire University and Keele University,
Every year since its inception, it has continually won the award for Best Buy to Let and House in Multiple Occupation Property Lettings Agency in the West Midlands at the SME Awards.
RK has also enjoyed year-on-year increases in gross profit and turnover, and offers plenty of room for growth for potential buyers.
It has a strong online presence via a user-friendly, informative website, as well as working through leading companies such as Zoopla, Rightmove, On The Market, Spare Room and Open Rent.
“The company was offered for sale due to change of lifestyle,” explained Operations Director Leanne Boulding, who led the sale.
With the help of Regional Commercial Director Chris Darroux, the team sourced and created competition between two bidders, and ultimately wrapped up a deal within eight months of going live on the market.
RK was acquired by Adam Rajpal, adding it as a bolt-on to Hassle Free Lettings (HFL), a Middlesex-based company in the same sector.
Launched in 2017, HFL consists of an experienced team of property management experts that provides services for landlords. The company has grown significantly and now manages properties across the UK.
Leanne commented: “Adam had bought another letting agency through us before – we formed a good relationship together and I was pleased to learn that he was interested in RK.
“As well as negotiating a very fair offer, the deal was made easier due to one of Adam’s key members of staff having previously worked for Robert, which created comfort with the landlord-focused transition.”