Newcastle's Hive Estates has acquired Tyneside Lettings in an undisclosed six-figure deal.
The move means Tyneside Lettings' four staff will join Hive Estates and its sister companies, while director Robbie Kalbraier joins the board as its chairman.
More than 267 tenanted units have been added to Sandyford-based Hive's portfolio as part of the deal.
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Hive Estates MD and founder Michael Mortimer said: “Now in our sixth year, this acquisition is a new milestone in our growth plans. We are passionate about delivering a better estate agency experience for tenants, landlords, house buyers and sellers.
"I joined this industry many years ago and quickly saw a desperate need for change so that we can move away from old fashioned, outdated traditions that don’t serve anyone.
“We are passionate about transforming the local landscape of estate agency and this portfolio of quality managed properties in Newcastle city centre, Jesmond and Heaton complements our already substantial portfolio.
“The addition to the business really shows we’re a serious player around the city and we are already on the hunt for our next acquisition.
"We’re also delighted Robbie agreed to join us as chairman which builds a strategic partnership between our two companies. We really value his experience and expertise and know he will play a vital role steering us going forwards.
"Robbie’s construction company has already referred a development to us to sell, in Jesmond on Highbury which was a £1.5m conversion of three stunning homes and we sold all of them for above asking within seven days. We created a unique marketing campaign around the site, with an open-house and bespoke brochure.”
Mr Kalbraier added: “I’m excited to be joining the board of Hive Estates at such an exciting time. The company is young, fresh and ambitious about providing something different in the market. They take the traditional estate agency model but inject it with their own ideas with a unique spin and approach.
"Michael’s vision and passion for a new breed of estate agency really drew me into wanting to do business with him, and I’ve already referred a client over to him. He didn’t just help sell the development, but advised on the interiors too, which caused me a lot more work but in the end resulted in a better product for the market that the client and I were very proud of putting our name to.”
Mr Mortimer says that when he set up Hive Estates in 2016 he aimed to offer an alternative to "salesy" counterparts.
