Pinkmove buys Newport estate agents Roberts and Co

The new owners have said they will will reduce the number of Roberts branches and relocate some staff members.

The possibility of some redundancies has not been ruled out.

Chris Brooksbank, of business recovery firm O'Haras, said the sale was completed on Monday evening, a fortnight after he was appointed as administrator to Roberts and Co estate agents.

READ MORE: Administrator appointed for Newport-based Roberts and Co Estate Agents

And speaking to the Argus, Pinkmove director Paul Cleverly said he was "very happy and very confident we can make Roberts an industry leader, financially as well as [in terms of] market-share".

He added: "[Roberts] was bought for a substantial amount because we think it's a great business."

Mr Cleverly said there had been a lot of interest in the agency, attracting around 40 prospective buyers.

Pinkmove's plan, he added, was to "consolidate" some Roberts and Co branches.

"Inevitably this may lead to some redundancies," he said, adding that Pinkmove would seek to redistribute Roberts and Co staff and reduce the number of branches.

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The Roberts and Co offices in Newport, Cwmbran, Blackwood, Ebbw Vale, and Cardiff will remain open, Mr Cleverly said.

The Pontypool branch will merge with Cwmbran, and the Caerphilly office will operate out of the Fussells estate agents' office in the town.

The Caerleon branch will continue to operate. The Risca branch will close but its team will now be based out of Newport.

The Roberts and Co office in Bridge Street, Newport, will move up the road to Pinkmove's Newport office.

Mr Cleverly said the restructuring of the firm "won't have any impact" on customers who had been buying or selling a property with Roberts and Co.

The Pinkmove boss said renovations were planned for the former West of England Tavern site, near the Transporter Bridge in Newport, which would eventually become the new headquarters for both the Pinkmove and Roberts and Co estate agents.