Bristol law firms act in North Somerset estate agency management buy-out

September 10, 2020

An independent estate agency with offices in and around Bristol has been acquired by its management in a deal put together by two law firms in the city.

Westcoast Properties’ director Nicholas Webber and associate finance director Lindsay Pickles, pictured below, have taken ownership of the estate agency with previous owners Martin and Kay Crees remaining a core part of the business. Martin also becomes non-executive chairman. 

Established in Portishead in 1995 by Martin Crees, the firm went on to open offices in Patchway, Weston-super-Mare, Nailsea and Burnham-on-Sea, handling residential sales, lettings and property management services from its offices.

Nicholas Webber joined Westcoast Properties in 2007, having already been working in estate agency since 1993. He gained experience in multi-site management as associate director, overseeing four branches and taking responsibility for the day-to-day running of the business.

Lindsay Pickles, who joined the firm in 2010, said: “Having both worked with Martin and Kay for the past 10 and 15 years respectively we were delighted to be offered this amazing opportunity to continue growing such a highly-regarded company. We’re both immensely looking forward to the future at Westcoast Properties.”

Bristol-headquartered national law firm TLT advised the management team on the transaction from the outset, working with the company’s tax advisers Thomas Westcott. 

Corporate partner Jon Gill led the team with support from solicitor Rachel Kelly.

Clifton-based Cook Corporate Solicitors acted on behalf Martin and Kay Crees, with managing partner Charles Cook leading assisted by trainee solicitor Ed Schofield.

TLT partner Jon Gill said: “We are delighted to have worked with Nick and Lindsay on delivering a smooth transition of ownership that enables them to take the business to the next level in the future.

“This transaction demonstrates that, despite the wider uncertainty brought about by the pandemic, opportunities do exist for ambitious teams to take control of their own destiny and drive the businesses forward, and we look forward to supporting their progress in doing so.”

Nicholas Webber said: “We’re grateful to TLT for their support. Both Jon and Rachel’s knowledge of the end-to-end sale process and their pragmatic advice allowed for a smooth transaction for all parties.”

Cook Corporate Solicitors has a strong reputation in the estate agency sector having recently acted in transactions involving Clevedon and Yatton agents Mark Templer and Gibbins Richards, which has offices in Taunton, Bridgwater and Wellington.

Pictured below: The Westcoast Properties team with, front row, Kay and Martin Crees

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