UK: Cornwall-based Classic Cottages, which describes itself as the UK’s largest independent holiday letting specialist, has acquired regional self-catering holiday home agency Norfolk Holiday Homes for an undisclosed sum.
The purchase represents Classic Cottages’ first major venture into the Norfolk market, adding an additional 30 properties to its growing domestic portfolio in the process. The company now manages 1,462 properties on a short-term rental basis across the UK.
As a result of the transaction, Classic Cottages will take over the existing Norfolk Holiday Homes office in Hunstanton on the North Norfolk coast. It has also appointed a local property manager and assistant to manage the portfolio, after the business was previously run by an owner-manager.
Dan Harrison, commercial director of Classic Cottages, said: “This acquisition further expands the Classic Cottages footprint and gives us a significant presence in East England for the first time, with a well-established and diverse portfolio of quality properties. It also means that very close to half the properties we manage are now located outside our Cornish heartland as we continue to grow into other parts of the UK.”
Murrell Associates LLP, based in Truro, advised Classic Cottages on the deal.
Founded in 1977, Classic Cottages belongs to the Sapphire Holidays Group, whose West Cornwall-based brands include Aspect Holidays, Boutique Retreats and Unique Holidays. In total, the group manages over 2,850 properties in the UK, attracting around 165,000 guests a year, and it employs more than 180 team members.
