Mundys acquisition of PPM Lets

Lincoln estate agency Mundys has expanded with the acquisition of a property management firm.Mundys purchased PPM Lets, which will be integrated into its residential lettings department. PPM Lets, also based in Lincoln, specialises in lettings on the local Burton Waters development.

The company was established three years ago by mother-and-daughter team Freya Leary and Lorraine Pountney.“Freya and I decided that the time was right to sell the business,” said Pountney.

However, we only wanted to sell it to a reputable company that would continue to offer the standard of service provided by PPM Lets to landlords and tenants over the years and discussions with Mundys resulted in a successful sale.

Mundys partner Steven Spivey said the company had experienced a boost in enquiries into the rental market in the past year.

“The rental market is extremely buoyant at present because many people prefer the flexibility of shorter term, more flexible living or simply can’t afford the deposit needed to buy their own home,” he said.”