An estate and lettings agency in South Wales is marking a significant milestone in its expansion journey. Peter Morgan Property Group, a veteran in the property services industry, has secured a £150,000 finance package that will enable it to acquire SureLet Carmarthen, further extending its presence in the region.
A Strategic Finance Package for Growth
The financial boost comes from two key sources: the Investment Fund for Wales (IFW) and the Community Investment Enterprise Fund (CIEF). This combination of funds has paved the way for Peter Morgan Property Group to expand its operations strategically, adding Carmarthenshire to its portfolio.
The acquisition of SureLet Carmarthen signals the company’s fifth branch in the region, solidifying its presence across South Wales. With over 40 years of experience, Peter Morgan Property Group has become a household name in the property industry, offering services across Rhondda Cynon Taf, Bridgend, Neath Port Talbot, and now, Carmarthenshire.
The expansion is not just a business move but a step toward increased regional influence. By acquiring SureLet Carmarthen, the group is not only expanding its reach but also securing jobs and adding to its growing workforce.
Navigating the Pandemic and Business Shifts
The pandemic reshaped businesses globally, and Peter Morgan Property Group was no exception. Jonathan Morgan, the director and property expert, took the helm five years ago, guiding the family business through both challenging and transformative times.
Reflecting on the pandemic’s impact, Morgan noted that their previous business model needed reevaluation. “Like many businesses, coming through, and out of the pandemic, we knew that our business model needed changing. No longer did we need lots of offices, so we made the move to a model that was based on a hub in each county we served,” he explained.
This adaptive shift in strategy allowed the company to focus on acquisitions, finding opportunities where they could grow their operations efficiently. The acquisition of the Carmarthenshire branch came at an opportune time for the company, but Morgan knew that accessing the necessary finance could be tricky.
Securing Finance Quickly
To support the expansion, Peter Morgan Property Group needed to secure funds swiftly. Jonathan Morgan was directed to BCRS Business Loans, a story-based lender specializing in supporting small businesses aiming for growth.
Graeme Lewis, the South Wales business development manager at BCRS, spent considerable time understanding the business’s needs. “Jonathan and the team have a clear strategy, and we’re glad that we’ve been able to support them in their expansion,” said Lewis.
BCRS Business Loans was an essential partner in this process, as it provides finance options tailored to the unique needs of businesses in the region. Their mission is to foster economic growth, and partnering with Peter Morgan Property Group perfectly aligned with that goal.
With this partnership, the group was able to finalize the acquisition and secure employment for staff in the newly acquired Carmarthenshire branch. Moreover, Peter Morgan Property Group plans to add more employees to meet the growing demand for their services in the region.
The Role of the Investment Fund for Wales
The finance package received by Peter Morgan Property Group is part of a broader initiative supported by the Investment Fund for Wales, backed by the British Business Bank. This fund operates throughout Wales, offering various finance options to help small and medium-sized businesses thrive.
The fund provides loans ranging from £25,000 to £2 million and equity investments of up to £5 million. The aim is to help businesses start up, scale, or stay ahead of the competition. For Peter Morgan Property Group, this financial support has been vital in unlocking new growth opportunities.
Finance Breakdown:
- Investment Fund for Wales: Loans from £25,000 to £2 million, equity investments up to £5 million.
- Community Investment Enterprise Fund (CIEF): Focused on providing financial support to community-driven businesses.
- BCRS Business Loans: Specializes in smaller loans (£25,000 to £100,000) to support businesses like Peter Morgan Property Group.
The collaborative nature of these financial institutions has enabled Peter Morgan Property Group to continue its regional growth with confidence.
Impact on the Region
The acquisition and subsequent expansion by Peter Morgan Property Group highlight the broader impact that strategic financial support can have on local economies. By securing the jobs of SureLet Carmarthen employees and creating new employment opportunities, the group is contributing to the economic stability of South Wales.
The property market in Wales has seen increasing demand, and the expansion of companies like Peter Morgan Property Group ensures that the region remains competitive. With the support of financial institutions like IFW and BCRS, the future looks promising for small and medium-sized enterprises looking to grow their footprint.
As the property group continues to expand, its influence in the Welsh property market is set to grow, positioning it as a leader in regional property services.
