Northwood Newcastle has completed on its second acquisition of the year after completing a deal to buy Urban BASE on Saddler Street in Durham.
Following on from their acquisition of Moving Homes in North Shields earlier this year, this is the third purchase completed by Inde Dhillon and his business partner, Aman Singh, since they took on the Northwood Newcastle business as a resale in 2018. The pair
Dhillon said: “After buying Moving Homes in North Shields earlier this year, the acquisition of Urban BASE in Durham is our next evolutionary step in terms of business growth. It is also a new type of business for us, as the main focus of Urban BASE is on new homes and land sales. They also have a very good name in the field of luxury properties, which sell in the range of £1.5m to £2.5m.”
Northwood Newcastle’s rental portfolio now consists of more than 1,100 properties, and the additional properties that they have taken on through this acquisition let for between £2000-£3000 per month.
Urban BASE will continue trading under the same name as it is a very well-established and reputable brand that will be celebrating 20 years in business next year, with Jan Dale, the previous owner, staying on with the business.
Dhillion continued: “All of our offices operate individually, although we have a lettings hub in our Northwood Benton office to manage the rental side of the business. We now have a team of 40 people, and this latest acquisition is another significant step towards our goal of becoming one of the biggest agents in the North East.
“Over the last six years we’ve felt extremely privileged that the owners of some of the biggest and best independent agencies in the North East have entrusted us to take on their businesses, and this has enabled Northwood Newcastle to become a real property management giant in the area.”
Northwood MD Phil Gee added: “Urban BASE had a decent size lettings portfolio, which has now been integrated into Northwood, increasing their managed portfolio to over 1100 properties. Importantly, however, Urban BASE will add a very significant new dimension to their business, as it is a proven specialist in the sale of land and new homes.
“Inde and Aman are incredibly ambitious young entrepreneurs, and I congratulate them on everything they have achieved. They are incredibly decent, hardworking individuals who are very well respected within the Northwood network and the wider industry, and I wish them every success for the future as they continue to expand their business in the North East.”
