Nicolas Van Patrick acquires Knightsbridge perennial Hobart Slater
Montpelier Street based Nicolas Van Patrick (NVP) have purchased Hobart Slater, one of the original two Estate Agents who specialised in the Knightsbridge area.
NVP have acquired both the business and premises, and in doing so added one of London’s most well-established property brands, together with a team of four agents who will double the size of the NVP team.
Having exchanged contracts on the final day in October, the deal will complete on 31 January 2018.
Says Nic Pejacsevich, one half of the NVP directorship:
‘This is the result of conversations between the NVP team and Hobart Slater, about things we all respect and cherish and want to see cultivated in London property. It is the culmination of an ongoing friendship and knowledge transfer between our businesses in which we have unparalleled local knowledge and market penetration.’
Continues fellow NVP director Patrick Alvarado:
‘Independent agencies are rarely bought without losing their independence. However in this case we have the chance to not only conserve the independence of both businesses, but also enable NVP to take a quantum leap, purchasing well over three decades of experience in London’s prime residential sector. Not bad for an agency established in 2014.’
The outgoing directors, Robert Hobart and Roger Slater, will be welcome in the business moving forwards at their own discretion.
Jointly they comment:
‘It’s a pleasure to sell our business to NVP. The team there enjoy what they do as much as we always have and that’s important to us. We’ve watched NVP grow from our neighbouring headquarters and we feel sure we are handing the Knightsbridge property torch on to the right people. Plus, as we are friends we will drop in from time to time to show them we’ve still got it.’
Pejascevich goes on:
‘The preservation of traditional values is important to us. We believe at this end of the market property is about handshakes not clicks, and it will necessarily remain so as family offices become more involved in private wealth management. This type of client needs real due diligence, collaborative intelligence, and partnership throughout the acquisition process. We are here to ensure they get exactly that, and to carry on with our intention to build quality bridges between buyers and sellers.’
The acquisition will more than double the capacity of NVP’s lettings and management department, as well as significantly expanding the core business of sales.
The new business will be fully formed from February 1st, with NVP moving down Montpelier Street towards Harrods, into the larger and fully revamped long-term Hobart Slater premises. Between now and then the transitioning businesses will he known as ‘NVP in association with Hobart Slater’, before integrating fully into the NVP brand when appropriate.