The buy includes the rights to grow and expand the three existing brands beyond their current network of seven offices in South Woodford, Woodford Green, Loughton, Buckhurst Hill, Stratford, North Chingford and Walthamstow.
John Hards, co-managing director of Countrywide Residential Lettings, said: “The Letmore Group offers huge potential in prime commuter locations and key rental hot spots across East London and Essex.”
The news follows Countrywide’s acquisition of Hamptons International last month and its network of more than 80 estate agency and lettings branches.
Phil Spencer, managing director of The Letmore Group said: “Countrywide offers the best future for The Letmore Group and will build on our existing brands by offering new investment and new opportunities for our staff and for the business to grow as part of a network of 1,300 offices.”
Phil Spencer will continue in his role as a consultant for the next 12 months to ensure a smooth hand over, having spent more than 20 years growing the business.
The other 40 staff at The Letmore Group all stay on and the business will continue to operate as three local brands.
