Peter Morgan Property Group, a well-established estate and lettings agency based in Neath, has successfully secured a £150,000 finance package. This funding, from the Investment Fund for Wales (IFW) and the Community Investment Enterprise Fund (CIEF), has powered the acquisition of SureLet Carmarthen. The move marks a significant expansion for the family-run business, opening its fifth branch and extending its reach across South Wales.
A Strategic Shift to a Hub-Based Model
With over four decades of experience, Peter Morgan Property Group is a trusted name in several Welsh counties. The recent funding supports its strategy of growing through key acquisitions.
Jonathan Morgan, who took over the business five years ago, explained the need for change after the pandemic. He said, “Like many businesses, coming through and out of the pandemic, we knew that our business model needed changing.” This led to a major operational shift.
The company moved away from having multiple small offices. Instead, it adopted a more efficient hub-based approach.
- Central County Hubs: A single, central office now operates in each county the company serves, including Rhondda Cynon Taf, Bridgend, and Neath Port Talbot.
- Streamlined Operations: This new model helps streamline operations, making the business more agile and effective in a competitive market.
The acquisition of SureLet Carmarthen fits perfectly into this new, leaner business model, establishing a strong hub in Carmarthenshire.
Navigating the Challenges of Business Finance
For many small and medium-sized businesses, finding the right capital for expansion can be a major hurdle. Jonathan Morgan was familiar with these difficulties from a previous acquisition.
To secure this latest round of funding, Morgan worked with BCRS Business Loans. Graeme Lewis, the South Wales business development manager for BCRS, was key in helping the property group get the finance it needed.
BCRS Business Loans is a story-based lender that focuses on helping small businesses grow and make a positive social impact. Graeme Lewis commented, “Jonathan and the team have a clear strategy, and we’re glad that we’ve been able to support them in their expansion.” This support was vital for turning the company’s growth plans into reality.
| Financing Source | Amount / Type | Purpose |
| Investment Fund for Wales | £150,000 | Business acquisition |
| BCRS Business Loans | Small loans (£25,000 – £100,000) | SME growth support |
| FW Capital | Larger loans (£100,000 – £2m) | Scale-up funding |
Boosting Local Employment and the Economy
This expansion is not just good news for the company but also for the local community. The acquisition of SureLet Carmarthen has secured the jobs of all existing staff.
Furthermore, Peter Morgan Property Group has hired new employees to support its growing operations. This commitment to job creation and regional development is a core part of the company’s values.
“We were presented with such a fantastic opportunity in acquiring the Carmarthen business,” Morgan stated. This move strengthens the company’s footprint and its ability to provide high-quality property services across South Wales.
A Bright Future in the Welsh Property Market
The results of the new strategy are already clear. The company has reported a positive increase in revenue following the expansion into Carmarthenshire.
The successful acquisition and the shift to a hub-based model have put Peter Morgan Property Group on a strong growth path. The business is now well-positioned to explore further opportunities for both organic growth and future acquisitions.
With solid financial backing and deep market knowledge, the company is set to continue its success. The expansion into Carmarthenshire is a key step in ensuring the business thrives in an ever-changing property market.
Frequently Asked Questions
What is Peter Morgan Property Group?
Peter Morgan Property Group is an estate and lettings agency headquartered in Neath, South Wales. With over 40 years of experience, it serves multiple counties, including Neath Port Talbot, Bridgend, Rhondda Cynon Taf, and now Carmarthenshire.
How much funding did the company secure?
The company secured a £150,000 finance package. This funding was provided by the Investment Fund for Wales (IFW) and the Community Investment Enterprise Fund (CIEF).
What was the purpose of the funding?
The primary purpose of the £150,000 funding was to facilitate the acquisition of SureLet Carmarthen. This strategic purchase allowed the company to expand its operations into Carmarthenshire and open its fifth branch.
How has this acquisition affected local jobs?
The acquisition has had a positive impact on local employment. It secured the jobs of the existing staff at SureLet Carmarthen and also led to the creation of new positions to support the company’s expanded operations.
What is the company’s new business model?
Following the pandemic, the company shifted from a traditional multi-office setup to a more efficient hub-based model. This involves operating one central office in each county it serves to streamline operations and improve service delivery.
