Chester: Long established estate agency bought out

Matthews of Chester has been acquired by Manchester-based counterpart Thornley Groves, which operates a network of 13 offices spanning the North West.

In the 250 days since the deal was sealed in October, the Matthews team has seen the number of homes in its rental portfolio soar by about 30 per cent.

Plus it has agreed sales on 112 properties worth a total of more than £32million.

Thornley Groves is now looking to build on this platform and accelerate the next stage of its expansion journey in Chester – using the Matthews success story to unlock further acquisitions.

For Thornley Groves’ CEO, Jason Watkin, the Matthews deal takes him back to his property roots as he was based in the city back in the 1990s.

He said: “When Matthews became part of the Thornley Groves family, we inherited not just a first-class team of people but also a brand that has been the pulse of the property market in Chester and surrounding districts since 1986.

“Both brands share a similar heritage – we have been matching properties with people in the North West for over 30 years – and this has turned out to be the perfect match.

“That unrivalled local knowledge and home-grown skills, blended with the launch of the latest technology and a range of new services, has proved a winning formula raft.

“We’re proud to have been to be entrusted by the Matthews family to take forward their business into a new era, and are thrilled we are carrying forward the momentum at pace and scale.”

Matthews of Chester was launched and managed by the late Tim Matthews and wife Sue until their retirement in 2012.

Since then, it was run by daughter Rebecca and husband Kevin O’ Reilly, who have now also chosen to retire after completing the smooth handover of their business to Thornley Groves. 

Both Tim and Rebecca were former chairs of the Chester Association of Auctioneers, Estate Agents and Surveyors. 

Chester and District Standard | Business