Innovative new homebuyer service launched as agent makes six-figure, Ulster Bank backed investment

Posted By:
Ulster Bank

28th Apr 2022

  • Quinn Estate Agents acquires Banbridge-based estate agency Sawyers & Co.
  • Property specialist also invests in acquisition and development of commercial and residential premises
  • Launches innovative response to common issue of property transactions ‘falling through’

A County Down-based estate agent has made a six-figure investment supported by Ulster Bank to expand its business and launch an innovative new stop-gap accommodation service for home buyers and vendors.

Quinn Estate Agents, the sales and lettings specialist which now operates branches in Downpatrick, Banbridge and Ballynahinch, has acquired the longstanding Banbridge-based Sawyers & Co. estate agency, significantly expanding its portfolio of rental properties and sales listings.

Alongside the business, the agency has acquired the former Sawyers & Co. trading premises which offers prominent street-level office space, which Quinn is now operating from, as well as two residential apartments above the unit.

Following a successful 12 months, the business, established in 2010 by Jonathan Quinn, has also acquired similar premises in Ballynahinch which features ground floor commercial space with potential for apartment accommodation and an abandoned bungalow, located to the rear of the property. This is the backdrop for an innovative new service to support home buyers and vendors caught in the property chain.

Benefitting from on-site storage containers for large home appliances and possessions, the bungalow has undergone a renovation to accommodate short-term stays for homebuyers and sellers wanting to complete on the sale or purchase of their property to avoid the transaction falling through.

“It’s a rather unique service,” explains managing director Jonathan Quinn.

“Moving house can be a stressful exercise, so we’re keen to ensure a frictionless transition for our vendors and homebuyers. Unless you’re a first-time or cash buyer, you’re likely to find yourself in a property chain that relies on the completion of successive property transactions. Often, there can be a break in that chain for any number of reasons that causes the sale of a property to ‘fall through’.

“We’re renting the property to our clients on a week-to-week basis to help ease the burden of sourcing temporary accommodation. It’s a service that has been extremely well received.”

As a result of the success of the trial in Ballynahinch, Quinn is now investing in the development of a similar short-term let for homebuyers and sellers in Banbridge.

Commenting on the expansion of the business, Ulster Bank business development manager Derick Wilson says: “Jonathan and the team at Quinn Estate Agents have identified a workable solution to a common problem facing many people in the residential property market. It’s a simple, but extremely effective response.

“In addition, as the past 18 months have shown, the property market operates in peaks and troughs as it reacts to external factors. By acquiring these premises the business has secured new revenue streams from commercial and residential rents that will sustain the business.”