Principle Estate Management have aquired Pennycuick Collins' lettings and block management portfolio, increasing managed properties to 25,000 leasehold units and adding 600 lettings managed units to the portfolio.

This acquisition holds special significance, reinforcing longstanding professional ties. Founder, Brett Williams, and finance consultant, Peter Dening, both previously worked at Pennycuick Collins, where Dening formerly served as a director.

“This deal is particularly special to me, as it brings my career full circle, having worked in this business earlier in my career before joining Curry and Partners. It’s a proud moment, being in a position to integrate it into the business we’ve built at Principle,” said Brett.

“The acquisition aligns with our mission to blend experienced people, smart systems, and client-focused service. There is real talent in the team, and we’re excited about the opportunities to further enhance service quality with the structures we already have in place.”

The sentiment is echoed by owners Adrian Roddick and Charles Gillett, owners at Pennycuick Collins: "We've been seeking the right home for this part of the business and we're confident we've found it in Principle. Our team is excited about the move, and we know our clients will be in great hands."

Following the sale, Pennycuick Collins will focus exclusively on their core commercial property and building surveying services. As part of the restructuring, they have also relocated to Foundry, 6 Brindley Place, B1 2JB.

Commenting on Principle’s growth, Joe Jobson, joint managing director said: “While we've never operated to a rigid business plan, reaching the 25,000-unit mark was a long-standing goal, and it's great to hit that milestone with this deal. It also enables us to offer letting agency services—something we've always wanted to introduce to better serve our landlord clients."

As part of the acquisition, Lucy Roberts, who brings 20 years of experience with Pennycuick Collins, will join Principle as Director - Head of Residential Asset Management. Her expertise will be instrumental in leading a team of five professionals managing a large portfolio of clients, including student accommodation in central Birmingham.

Joe Jobson, joint managing director added: “As part of the acquisition, we’re delighted to welcome Lucy Roberts. She brings a wealth of knowledge and a trusted team alongside her. This ensures continuity of service for our existing clients while strengthening our offering for new ones.”

This acquisition strengthens their position as one of the region’s leading property management specialists, while reinforcing our commitment to strategic growth and exceptional service.

Legal advisors for the transaction were Wilkes Partnership (acting for Principle) and Realty Law (acting for Pennycuick Collins).