LRG has expanded its estate agency network with the acquisition of independent firm Farrar & Co in London for an undisclosed sum.
The Fulham-based agency, run by directors Julian Chambers and Terje Gilje, had established itself as an independent, privately owned business. Established in the 1950s and acquired by the current directors in 1994, it has since built up a presence in the Chelsea area.
Following the deal, Farrar & Company will continue to trade under its existing name, with all employees transferring to LRG. Julian Chambers will remain in the business, while Terje Gilje will not be joining the company.
Chambers said: “Farrar & Co has always been built on strong relationships, local knowledge and a consistent, personal approach to service. Joining LRG allows us to continue doing what we do best, while benefiting from additional support and scale. It gives the business a strong platform for future growth, while staying true to what has made it successful.”
Matthew Light, Group Mergers and Acquisitions Director at LRG, commented: “Farrar & Co is a business built on reputation, experience and long-standing client relationships. Julian, Terje and the team have built something with real depth in the market. We are keen to build on that strength while supporting the business as it grows within the LRG network.”
LRG has also acquired Chelsea-based block management specialist Principia Estate and Asset Management, which was also owned by Chambers & Gilsey. The firm manages approximately 250 buildings, many of which are located in conservation areas and some of London’s most valuable residential properties. Principia will retain its brand and existing leadership.
Michael Cook, chief executive of LRG, said: “This acquisition adds a well-established Chelsea agency to our existing London operations. Farrar & Company brings a strong local presence, supported by two key offices and an experienced team that understands how to deliver for both sellers and landlords. The strength of the Farrar & Company brand is a key part of that success, and it will continue to play a central role as we build on this foundation.”