The Sale of Tyneside Lettings Company to Hive Estates
Tyneside Group is delighted to announce the sale of our lettings and property management arm, Tyneside Lettings Company, to Hive Estates Limited.
The deal has added more than 267 tenanted units to Sandyford-based Hive’s portfolio. Staff from Tyneside Lettings have joined the Hive team, while director Robbie Kalbraier is delighted to be continuing as chair of TLC and will also be joining the board of Hive Estates to facilitate the onward growth of both companies and assist with corporate strategy. This sale builds on an already close relationship between Tyneside and Hive, which began when Tyneside Developments worked with Hive MD Michael Mortimer on our Highbury project.
Hive’s unique marketing campaign generated incredible interest in the properties, leading to all three properties being sold for above the asking price within seven days.
Tyneside MD Robbie Kalbraier said: “After working closely with Michael Mortimer and his team at Hive during 2021, we know the business is in safe hands and they will continue to bring all TLC’s clients and tenants an exceptional service level. The Tyneside team will continue to work alongside Hive Estates as we push forward our many construction projects in 2022. We would like to give special thanks to the team at Square One Law for all their hard work getting this deal to completion.”
Hive Estates MD Michael Mortimer, who founded the company in 2016, said: “Now in our sixth year, this acquisition is a new milestone in our growth plans. We are passionate about delivering a better estate agency experience for tenants, landlords, house buyers and sellers. We’re also delighted Robbie agreed to join us as chairman which builds a strategic partnership between our two companies. We really value his experience and expertise and know he will play a vital role steering us going forwards.”
In addition to the Hive Estates office on Starbeck Avenue, Hive Estates and its sister companies have expanded into TLC’s Picton Manor office in the city centre.
Tyneside Group and Tyneside Developments have moved on to an exciting new location – the historic Blue House on Newcastle’s Town Moor – and we’ll be bringing you more news on our relocation very soon.