Regenda expands into private lettings market
Published by Lucy Bradwell for The Regenda Group in Housing
Eric Hinds with Graham Bennett and Tracy Heyes from Regenda
Bolton-based housing provider The Regenda Group has acquired one of the North West’s most established letting agencies in a move which will increase the Group’s presence in the sector.
McDonald Property Rentals manages more than 800 homes and is the leading specialist lettings agent across the Fylde coast. The business employs 14 staff across three offices.
The acquisition is part of Regenda’s plans to strengthen the commercial arm of the business.
Group Chief Executive, Bernard Gallagher, said: “We clearly set out our ambition to grow the Regenda family in our new Group Corporate Plan, recognising that it is vital for us to generate new revenue streams.
“We are delighted to be welcoming McDonald Property Rentals into the Group, as it is an established business whose work is naturally aligned to us. The success of McDonald will support work in other parts of the Group.”
McDonald - which operates from Blackpool, Cleveleys and Fleetwood – has become a subsidiary of RHL, which is in turn a commercial subsidiary of the Regenda Group.
RHL specialises in the development, sale and management of homes through shared ownership. It also has a strong portfolio of intermediate rents and commercial property.
RHL Director Graham Bennett said: “This was the next natural step in RHL’s growth and diversification plan and it complements our growth of private rented stock.
“McDonald Property Rentals has been operating on the Fylde coast for nearly 40 years and is an established, trusted brand. We want to build on that and – in the medium term – look to roll out this successful model to other parts of the region.”