Isle of Man estate agent Plum Properties has been bought out by Partners Real Estate.
There will be no immediate changes to the business, although there are plans for investment and expansion.
The purchase comes just weeks after Partners, which is headquartered in the Isle of Man, concluded a deal to buy Property Wise.
New Owners of Plum
The acquisitions are part of an ongoing expansion of the Partners network of estate and property agencies across the Isle of Man, UK and United Arab Emirates.
Partners Chairman Brendan Beeken said: “The acquisition of Plum Properties marks another milestone in the expansion plans for Partners.
“It is the second estate agency we have purchased on the Isle of Man and we are in advanced talks with other businesses around the British Isles and further afield.
“The team at Plum has extensive experience in residential and commercial sales and lettings, as well as property management. The combination of professionalism, commitment to personal service and deployment of innovative marketing and advertising has established an excellent reputation.
“We’re delighted to welcome Jamie and the Plum team to Partners and look forward to providing the resources and support for the business to build on its reputation and further cement its presence in the Island’s property market.”
Business as Usual
Douglas-based Plum Properties launched as a residential property lettings and management business in 2015 with a portfolio of private clients.
After obtaining its Isle of Man Estate Agents licence, the company moved into residential sales.
Sales Director Jamie Sutton said: “After almost a decade of building our business and reputation in the Isle of Man, the acquisition by Partners marks an important new chapter for Plum Properties.
“We gain access to the experience and resources of an international real estate group, which will allow us to grow and enhance our service to existing and new clients.
“Everyone at Plum is thrilled to become part of a group which shares our values of high quality, client-focused, cost-effective service in the sales, letting and property management markets.
“We are developing exciting plans for the business following the acquisition and will share those soon. For the moment, it remains ‘business as usual’ for all our clients and partners.”
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