AN ambitious lettings agency has bought a property company as part of its growth strategy.

The Castledene Group, which is based in Easington, County Durham has acquired Property Finders North East Ltd after being advised by Clive Owen Corporate Finance, in Darlington.

The Castledene Group has been operating in the North-East since 2008 and is one of the biggest lettings agencies in the region with more than 2,000 properties under management in its portfolio. The group includes property management, property investment and property maintenance services. 

Despite the economic downturn over recent years, the firm has seen its business grow by acquisitions and the development, refurbishment and construction of properties within its ever increasing portfolio.

Clive Owen Corporate Finance, headed up by Angus Allan, has worked with owner John Paul and the team at Castledene since 2009.  The Property Finders North East deal is part of an overall strategy to continue developing the property portfolio of the business.

Mr Paul said: “We are delighted with the completion of this deal.  It has been an exciting project and it strengthens our business even further.  We’ve an extremely focused approach to our business and we look for results and work to deadlines. 

“Working with Angus and the team at Clive Owen is beneficial to our business.  They have the skills and approach to client service that we look for.”

Angus Allan, corporate finance partner with Clive Owen, said: “The Castledene Group continues to go from strength-to-strength and it’s testament to John Paul’s determination for success that this deal has been completed so smoothly. 

“He is an ambitious and dedicated entrepreneur and I’m confident we will see more results like this in the future.  We enjoy working with him and his team.”