Estate agency is building on success
3:07pm Thursday 27th August 2009 in Business News
AT a time when many companies are cutting back and reducing staff numbers, one estate agency in Bolton is recruiting and expanding.
Miller Metcalfe is a name known for its long-established residential property business, but what is less well known is that the company also has a thriving commercial section.
Now, under the guidance of chairman John Fletcher, who bought the business three years ago, the company is expanding and aims to become a leading regional player in the commercial property sector.
Mr Fletcher said: “We are well known for our residential sales and lettings, but we also see a great future in our commercial property division.
“The markets have improved, but in every recession there is an opportunity and we have changed our business plan accordingly.
“With the new appointments, we are bringing in highly experienced and professional people in order to grow the business irrespective of the recession.”
He added: “We are very optimistic about the future and we expect to grow the business from its current £1.5 million turnover to £2.5 million within the next 12 to 18 months.
“Previously, we might have been valuing commercial property in the region of £2 million, but now, with our new highly experienced team, we will be valuing property in the region of £25 million, and that will make us a major regional company.”
After making redundancies at the beginning of the recession, Miller Metcalfe has recently taken on 12 new staff and is looking to expand further.
The company, which has offices in Bradshawgate and Institute Street, Bolton, and dates back to 1897, now employs 35 people. It has an annual turnover of £1.5 million, but expects additional fee income to add an extra £1 million within the next 12 to 18 months.
The business has been divided into three operating divisions, with Jane Thompson heading the commercial property consultancy and Chad Davies as associate director.
Will Saunders is the managing director of the new Prestige brand along with residential sales and lettings.
Mike Picot is the managing director of a new division created to cope with the rapidly expanding commercial energy certification market and trading under the name of Enlighten Environ. He also has responsibility for the Miller Metcalfe survey department.
Alan McNaughton will continue as director of the commercial agency and auctions.
